Indraprastha Gas slips on profit booking

Indraprastha Gas lost 2.41% to Rs 436 at 12:17 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 366.09 points or 1.29% at 28,805.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 64,908 shares in the past one quarter.

The stock hit a high of Rs 450.20 and a low of Rs 434 so far during the day. The stock had hit a record high of Rs 458.70 on Thursday, 27 November 2014. The stock had hit a 52-week low of Rs 238.85 on 28 January 2014.

The stock had outperformed the market over the past one month till 27 November 2014, surging 11.08% compared with Sensex's 6.3% rise. The scrip had also outperformed the market in past one quarter, jumping 19.31% as against Sensex's 7.07% rise.

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

Shares of Indraprastha Gas had rallied 7.17% in four trading sessions to settle at Rs 446.75 on Thursday, 27 November 2014, from a recent low of Rs 416.85 on 21 November 2014.

Indraprastha Gas' net profit rose 29% to Rs 119.61 crore on 5.8% decline in net sales to Rs 948.86 crore in Q2 September 2014 over Q2 September 2013.

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

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