Indraprastha Gas zoomed 12.5% to close at Rs 172. The scrip touched a 52-week high at Rs 182 towards the end of tradins session. The counter saw heavy trades of 2.32 million shares against its two-week average volume of 141,321 shares.
___________________________________________________________
(Updated 1248 hrs)
Indraprastha Gas (IGL) touched its all-time high of Rs 165, following its agreement with RIL to supply gas from KG-D6 block.
The stock has now surged over 6% to Rs 163, after opening at Rs 155. The counter has clocked a near four-fold increase in its volume of 516,635 shares as against its two-week average trade of 141,321 shares. The scrip has rallied over 13% from its week-ago close of Rs 143 and it has zoomed over 23% in a month from Rs 132.
Reliance Industries (RIL) has signed a gas sale contract with Indraprastha Gas that would use the supplies from RIL’s eastern offshore gas fields for vending CNG to automobiles and piped gas to kitchens in the national capital. IGL is the sole supplier of CNG and piped gas in Delhi.
As per industry sources, RIL will supply 0.308 mmscmd of its KG-D6 gas to IGL.
