This helicopter company stock zooms 112% in six weeks
Posted on 18th April 2019 |
.jpg) |
Shares of Global Vectra Helicorp surged 9 per cent to Rs 127 in the intra-day trade on Thursday, gaining 53 per cent in the last one week on the BSE, on expectation of strong earnings growth. The stock was trading close to its 52-week high of Rs 131 on April 23, 2018 on the BSE.
In past three weeks, the stock has rallied 112 per cent from level of Rs 60.30 on March 8, 2019, as compared to 7 per cent rise in the S&P BSE Sensex.
Global Vectra Helicorp said more helicopter services are being used in India and natural market dynamics have resulted in the stock price rise.
“In respect of the recent movement in the price of our security, there is no information/announcement of any significance that the Company is aware of. It is possible that some articles in the media in relation to more helicopter services being used in India and natural market dynamics have resulted in the aforesaid rise,” Global Vectra Helicorp had said in a regulatory filing on March 13, 2019.
The company made the said disclosure after the exchanges sought clarification with reference to significant movement in price.
Global Vectra Helicorp is the largest private helicopter company in India, providing seamless, safe and accident free helicopter services for almost two decades. The spectrum of operations of the Company encompasses support to India’s offshore oil & gas industry, onshore operations for State governments (VVIP flying), election flying, heli pilgrimage and much more. The company also pioneers for helicopter operations in the conduct of specialized aerial geophysical survey and most recently, for providing power industry support services.
Global Vectra Helicorp had reported net profit of Rs 3.52 crore in October-December quarter (Q3FY19), on back of higher operational income. The company had posted net loss of Rs 67 lakh during the same quarter last fiscal. Operational revenue grew 23 per cent to Rs 123 crore from Rs 100 crore in the corresponding quarter of previous year.
At 02:52 pm, the stock was trading 2 per cent higher at Rs 118 on the BSE, as compared to 0.13 per cent decline in the Sensex. The trading volumes on the counter jumped more than three-fold with a combined 1.18 million shares (representing 8 per cent of total equity) of Global Vectra Helicorp changing hands on the NSE and BSE so far. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for This helicopter company stock zooms 112% in six weeks |
|
|
|
