Indraprastha Gas (IGL) is currently trading at Rs. 385.75, up by 6.65 points or 1.75% from its previous closing of Rs. 379.10 on the BSE.
The scrip opened at Rs. 382.00 and has touched a high and low of Rs. 387.00 and Rs. 382.00 respectively. So far 2,521 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 453.25 on 07-Sep-2011 and a 52 week low of Rs. 285.10 on 25-Feb-2011.
Last one week high and low of the scrip stood at Rs. 387.00 and Rs. 360.20 respectively. The current market cap of the company is Rs. 5,400.00 crore.
The promoters holding in the company stood at 45.00 % while Institutions and Non-Institutions held 41.85 % and 13.15 % respectively.
Indraprastha Gas has approached BG, Shell, GAIL (India), and Bharat Petroleum Corporation for committed supply of natural gas to ensure the fuel is available at affordable price to its consumers.
The natural gas price in the country varies from $4.2/mmBtu to $18/mmBtu (excluding the taxes and levies). With the allotted gas from ONGC fields at administered price already fully utilised and stoppage of Reliance Industries-operated D6 gas supplies, IGL has to depend on more expensive imported gas (liquefied natural gas).
IGL, a joint venture of GAIL, Bharat Petroleum Corporation and Government of NCT of Delhi, is into the business of compressed natural gas and piped natural gas. The company sells about 3.44 mmscmd of gas, of which 2.7 mmscmd is the administered price gas, 0.7 mmscmd is imported gas from term commitments. To fill the gap the company sources spot market gas which is even more expensive.