Indraprastha Gas hits record high on good Q1 results; 1:5 stock split

The stock hit a record high of Rs 1,300, up 7% on BSE in early morning trade.

Indraprastha Gas (IGL) hit a record high of Rs 1,300, up 7% on BSE in early morning trade, after the company reported a strong set of numbers for the quarter ended June 2017 (Q1FY18). The board approved the splitting of each equity share into five.

“The board has approved the sub-division (split) of one equity share of Rs 10 into five equity shares of face value of Rs 2 each,” IGL said in a statement.

The company reported net profit of Rs 161 crore in Q1FY18, in line with an average analyst estimates, due to higher sales volume