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Gujarat State Petronet shares rose as much as 13 per cent to hit their 52-week high in morning trade.
The shares rose 12.9 per cent to hit Rs 141.30 — its 52-week high — on the BSE.
The company has reported a net profit of Rs 113 crore against Rs 85 crore a year ago for the quarter ended June.
Higher than expected volumes and lower depreciation and interest charges helped the company log higher profits, said analysts.
They added that they expcted an upward revision in GSPL's regulated tariffs based on recently released draft amendment to tariff regulations.
At 11.45 am, the stock was trading off the morning highs, still up 8.76 per cent or Rs 10.95 at Rs 136.
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