Shares of Gujarat Gas dropped 6.3% due to a drop in net profit. Analysts are bearish due to growth challenges, uninspiring volume guidance, and expensive valuations. Red Sea disruptions impacted ceramic exports. Renewal of LNG contracts may offer upside to volumes in the face of a global gas glut.
Shares of Gujarat Gas will turn ex-dividend on Monday. The company had announced a final dividend of Rs 6.65 per share. Monday would also be the record date for determining the name of the eligible shareholders.