Indraprastha Gas gains after CNG price hike

Meanwhile, the S&P BSE Sensex was up 42.03 points, or 0.23%, to 18,582.92.

On BSE, 18,000 shares were traded in the counter as against an average daily volume of 1.65 lakh shares in the past one quarter.

The stock hit a high of Rs 275 and a low of Rs 268.15 so far during the day. The stock had hit a 52-week high of Rs 328.50 on 9 May 2013. The stock had hit a 52-week low of Rs 210 on 25 July 2012.

The stock had outperformed the market over the past one month till 24 June 2013, falling 4.66% compared with the Sensex's 5.90% fall. The scrip had, however, underperformed the market in past one quarter, falling 1.81% as against Sensex's 1.04% fall.

The mid-cap company has an equity capital of Rs 140 crore. Face value per share is Rs 10.

Indraprastha Gas (IGL), the supplier of compressed natural gas (CNG) in Delhi and neighbouring areas, has increased the price of CNG by 5% after a weaker rupee made imports costlier. The new consumer price of CNG is Rs 41.90 per kg in Delhi and Rs 47.35 per kg in Noida, Greater Noida and Ghaziabad.

Net profit of Indraprastha Gas rose 4.4% to Rs 83.53 crore on 22.4% rise in net sales to Rs 881.78 crore in Q4 March 2013 over Q4 March 2012.

Indraprastha Gas is the sole supplier of CNG and PNG in Delhi, Noida, Greater Noida and Ghaziabad.

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