Gujarat Industries Power Company surges over 3%; recommends dividend

Gujarat Industries Power Company is trading in positive territory on BSE at the first half of Friday's trading session spiking over 3%.

May 19, 2017 12:05 IST India Infoline News Service

Gujarat Industries Power Company is trading in positive territory on BSE at the first half of Friday's trading session spiking over 3%.
 
The stocks trading volume stood at 2,92,553 shares at 1:44 IST on NSE followed by traded value of Rs 319.18 shares.
 
The board of directors of the company has recommended a dividend of Rs. 2.70 per equity share of Rs. 10/- each fully paid up for the financial year ended March 31, 2017.
 
As per market observers, the company has been maintaining a healthy dividend payout of 23.26%.
 
BSE Power index is trading in bullish mood gaining over 15 points or 0.67% at 2304 levels at 11:50 IST.
 
Gujarat Industries Power Company Limited is engaged in the generation of electricity. The Company's gas-based power plants are Vadodara Stations, including Station-I with a capacity of 145 Mega Watts (MW) and Station-II with a capacity of 165 MW. 
 
Stock view:

Gujarat Industries Power Co Ltd is currently trading at Rs 107.8, up by Rs 3.05 or 2.91% from its previous closing of Rs 104.75 on the BSE.
 
The scrip opened at Rs 107.9 and has touched a high and low of Rs 110.5 and Rs 107.7 respectively. So far 347230(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1584.34 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 116.5 on 31-Jan-2017 and a 52 week low of Rs 81.25 on 24-May-2016. Last one week high and low of the scrip stood at Rs 108.8 and Rs 104.4 respectively.
 
The promoters holding in the company stood at 58.21 % while Institutions and Non-Institutions held 22.48 % and 19.31 % respectively.
 
The stock is currently trading above its 50 DMA.

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