Indraprastha Gas rose 4.23% to Rs 411.90, extending gains for the fourth session.
Shares of Indraprastha Gas spurted 6.17% in four trading sessions from its recent closing low of Rs 387.95 on 14 August 2020.
On the technical front, the stock's RSI (relative strength index) stood at 55.880. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day moving average (DMA) placed at 418.75 and its 200-day moving average (DMA) placed at 435.45.
The company's board will consider Q1 results on 26 August 2020. Indraprastha Gas' consolidated net profit jumped 27.5% to Rs 290.76 crore on 0.6% increase in net sales to Rs 1,552.53 crore in Q4 March 2020 over Q4 March 2019.
Indraprastha Gas (IGL) is a natural gas distribution company. It supplies natural gas as cooking and vehicular fuel.
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