Indraprastha Gas gains on receiving nod to lay CGD network in Gurugram

17 Jul 2017

Indraprastha Gas is currently trading at Rs. 1148.60, up by 26.25 points or 2.34% from its previous closing of Rs. 1122.35 on the BSE.

The scrip opened at Rs. 1155.00 and has touched a high and low of Rs. 1164.70 and Rs. 1138.10 respectively. So far 42,071 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1164.70 on 17-Jul-2017 and a 52 week low of Rs. 600.00 on 15-Jul-2016.

Last one week high and low of the scrip stood at Rs. 1164.70 and Rs. 1055.15 respectively. The current market cap of the company is Rs. 16,080.00 crore.

The promoters holding in the company stood at 45.00%, while Institutions and Non-Institutions held 43.39% and 11.61% respectively.

Indraprastha Gas (IGL) has received permission from Director of Industries & Commerce, Haryana, on July 13, 2017, to lay City Gas Distribution (CGD) network in Gurugram in the area lying between west side of Sohna road and National Highway - 8 of Gurugram.

IGL is the Central Government authorized entity for the city of Gurugram. The company has been pursuing with the State Government of Haryana for the permission to lay, build and operate CGD network in Gurugram.

Indraprastha Gas is engaged in distribution of CNG and PNG in Delhi. IGL laid the network for the distribution of natural gas in the National Capital of Delhi to consumers in the domestic, transport, and commercial sectors.

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