Godfrey Phillips hits upper circuit
DSIJ Intelligence / 27 Dec 2016
Markets had a sunny day on 27 December. The Sensex closed at 26,213.44, up by 406.34 ponts. Meanwhile, the cigarette manufacturer Godfrey Phillips had a ball on the streets. The stock which had closed on December 26 at Rs 832.50, opened at Rs 840 and reached its upper circuit limit in early trade.
Markets had a sunny day on 27 December. The Sensex closed at 26,213.44, up by 406.34 ponts. Meanwhile, the cigarette manufacturer Godfrey Phillips had a ball on the streets. The stock which had closed on December 26 at Rs 832.50, opened at Rs 840 and reached its upper circuit limit in early trade. The stock saw a spurt in volumes by more than 20.91 times. The share hit the upper circuit at Rs 999, up by 20 per cent.
The 30-day SMA of the stock stands at Rs 918.59, indicating bullishness in the stock. The scrip was still down 35.21 per cent from its 52-week high. In the last three months, the stock fell by 23 per cent. The 52-week high/low of the stock stands at Rs 1542/795.
The financial results of Godfrey Phillips have not been impressive in Q2. The net sales of the company in this quarter fell 13 per cent to Rs 472.21 crore. Its PAT stood at Rs 19.7 crore, a decline of 62.68 per cent YoY. It would be interesting to see how the stock opens on 28 December, ahead of F&O expiry on December 29.
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