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Indraprastha Gas gains on mulling to buy BG's Mahanagar Gas stake

24 Nov 2011

Indraprastha Gas is currently trading at Rs. 391.00, up by 0.75 points or 0.19% from its previous closing of Rs. 390.25 on the BSE.

The scrip opened at Rs. 412.20 and has touched a high and low of Rs. 412.20 and Rs. 390.30 respectively. So far 7497 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. 412.20 and Rs. 377.25 respectively. The current market cap of the company is Rs. 5463.51 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, Delhi based city-gas distributor jointly promoted by GAIL and Bharat Petroleum Corporation, is likely to pick up BG's stake in Mumbai based gas retailer Mahanagar Gas (MGL). GAIL is also a contender for BG's 65% stake in Gujarat Gas. The company has already discussed the intention with GAIL.

MGL offers piped-natural gas to around five lakh domestic customers and 1,200 small commercial and industrial establishments in Mumbai and adjoining areas. It also supplies CNG to 2 lakh vehicles through 150 filling stations and 750 dispensing points across Mumbai, Thane, Mira-Bhayander and Navi Mumbai.

The company’s net profit after tax has registered growth of 16.52% at Rs 77.22 crore for the quarter under review as compared to Rs 66.28 crore for the quarter ended September 30, 2010. Its total Income has increased by 33.90% at Rs 598.99 crore for the September quarter of the current fiscal as compared to Rs 447.33 crore for the corresponding quarter of the previous fiscal.

Related Indraprastha Gas Ltd. Links:

Indraprastha Gas Share Price

531.50 -4.55 (-0.85%) Jun 18, 18:03
1 Year Price Chart
Company Name CMP
GAIL India 155.10
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Indraprastha Gas 531.50
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Sensex vs Indraprastha Gas
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323