In today’s morning trade, GVK Power looked completely loaded with the energy rising high by 8%. The stock has been through tremendous ups and downs this month. The scrip entered into the month of August with its share price line sloping down. GVK Power share price picked and dropped throughout the month. GVK is an Indian conglomerate with its presence in various sectors like Energy, Resources, Airports, Transportation, Hospitality and Life Sciences.
Currently, GVK Power share price is trading at Rs. 6.60 with the rise of 7.32%. The result of the company for the June quarter is still awaited. In the last quarter of the financial year 2016, the company has reported a consolidated net loss of Rs. 407. The company has been presenting losses for over a year now for that matter. GVK power’s expenditures have been rising each quarter while its income remained flat. It will be worth watching the reaction of GVK power share price to the company’s first quarter result of the ongoing financial year.
GVK power share price has the face value of Re.1, and the company has issued 157.92 crores shares as on June 30th, 2016. The stake of Indian promoters has come down drastically this quarter from 54.25% to a mere 16.49%. The foreign promoters have entered in the company this quarter by buying 37.76% stakes. FII owned shares came down to 7.63% from 8.83% while DII stakes have gone up to 1.13% from 1.10%. In a broader scenario, the institutional stake has been decreasing each quarter. For June, the value stands at 8.76% as compared to 9.93% in the last quarter. On the other hand, the stakes of Non-Institutions have been going up each quarter standing at 36.99 for the June quarter.
GVK power is among the top 500 performing stocks for the quarter picked by Dynamic Levels. GVK Power share price last closed close to its first resistance level of Rs. 6.65. For more details on the support and resistance levels on GVK Power, check GVK Power share price forecast page of Dynamic Levels website.
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