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Indraprastha Gas jumps post CNG price cut in Delhi

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

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SI Reporter Mumbai
Last Updated : Feb 03 2014 | 2:39 PM IST
Indraprastha Gas jumped 7.51 percent to Rs 266 on BSE on reports the price of compressed natural gas (CNG) was cut by Rs 15 per kg and the price of piped natural gas was cut by Rs 5 per kg in Delhi.

The stock hit a high of Rs 269.50 and a low of Rs 244.20 during the day. The stock hit its 52-week high levels of Rs 328.50 on 9 May 2013.

On BSE, 2.74 lakh shares exchanged hands, compared with an average volume of 35,314 shares in the past one quarter.
 

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The stock underperformed the market in past one quarter, plummeting 11.24 percent as against Sensex's 3.07 percent drop.
 
Oil minister M Veerappa Moily announced on Monday that CNG price will be cut by Rs 15 per kg in Delhi. The price of piped natural gas (PNG) was also cut by Rs. 5, he announced.
 
Indraprastha Gas' net profit declined 6.5 percent to Rs 92.75 crore on 18.1 percent growth in net sales to Rs 1009.02 crore in the second quarter of the current financial year as compared to the same period last year. The company will announce its Q3 earnings results on 10 February.
 
Indraprastha Gas is the sole supplier of CNG and PNG in Delhi, Noida, Greater Noida and Ghaziabad.

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First Published: Feb 03 2014 | 2:06 PM IST

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