Indraprastha Gas slides on profit booking

Indraprastha Gas fell 2.98% to Rs 1,472 at 10:25 IST on BSE on profit booking after gaining 8.4% in the preceding six trading sessions to settle at Rs 1,517.70 yesterday, 21 September 2017, from its close of Rs 1,400.05 on 13 September 2017.

Meanwhile, the S&P BSE Sensex was down 267.74 points, or 0.83% to 32,102.30.

On the BSE, 10,000 shares were traded in the counter so far, compared with average daily volumes of 24,657 shares in the past one quarter. The stock had hit a high of Rs 1,515 and a low of Rs 1,469.70 so far during the day. The stock hit a record high of Rs 1,524.25 on 21 September 2017. The stock hit a 52-week low of Rs 744.30 on 21 September 2016.

The stock had outperformed the market over the past one month till 21 September 2017, gaining 19.52% compared with the 3.55% gains in the Sensex. The scrip also outperformed the market in past one quarter, advancing 42.04% as against Sensex's 3.47% gains. The stock had also outperformed the market over the past one year, surging 102.28% compared with the 13.55% gains in the Sensex.

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

Net profit of Indraprastha Gas rose 8.95% to Rs 161.26 crore on 16.62% rise in net sales to Rs 1049.22 crore in Q1 June 2017 over Q1 June 2016.

Indraprastha Gas retails CNG to automobiles and piped cooking gas to households in Delhi and adjoining cities of Ghaziabad, Noida and Greater Noida.

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