A bonus issue refers to a corporate action in which a company issues additional shares to its existing shareholders without any cost
Stocks to Watch, Dec 5, 2024: Here is a list of stocks that will be in the limelight today
The surge in IGL share price came after the company announced that its board would meet to consider a proposal for a bonus issue of equity shares for its shareholders
City gas companies like Indraprastha Gas Ltd and Adani Total Gas Ltd are mulling an increase in CNG prices after supplies of cheaper input gas was cut for the second time in a month, but the government officials say the retailers must give a cost breakup to justify the hike. The government, with effect from November 16, cut supplies of low-priced natural gas coming from old fields to city gas retailers by up to 20 per cent. This reduction came on the back of a 21 per cent reduction on October 16. City gas retailers IGL, which retails CNG in national capital and adjoining cities, Mahanagar Gas Ltd that does the same in Mumbai, and Adani Total Gas Ltd which operates in Gujarat and elsewhere, in regulatory filings flagged profitability concerns due to supply cut and hinted at price hike. Officials in the ministry of petroleum and natural gas however are unimpressed as they feel the retailers operate on "hefty" margins and can easily absorb the additional cost they may have to incur on
APM gas allocation cut by around 20% for CNG segment will have an adverse impact on the profitability of MGL and IGL
According to reports, global brokerage UBS has recommended 'Buy' ratings on IGL and MGL with target prices of Rs 700 per share and Rs 2,400 per share, respectively
Gujarat Gas, GSPL, MGL, IGL and Petronet LNG: Trading strategies for gas-related stocks as Gujarat Gas announces biz restructuring plan. Find out which stock look stronger on charts here.
Chatiwal talks about strengthening efforts to establish CNG to LNG conversion plants for servicing difficult terrains
Despite a muted Q1 show, analysts at JM financial were positive on IGL, and maintained 'Buy' on the stock with an unchanged target price of Rs 550
The so-called 'Modi-stocks' have rallied up to 50 per cent in the last six months, suggests a CLSA report. What's in store ahead; here's what the charts suggest.
At 11:11 AM; the shares of the company were trading 5.86 per cent higher at Rs 462.80 per share. Presently IGL is trading at a price to earnings multiple of 25.70 times
Chinese city gas distribution companies have slowed down as the country shifts to electric mobility, said the Prabhudas Lilladher report
Stocks to Watch on March 7: Indraprastha Gas, on Wednesday, reduced the prices of compressed natural gas (CNG) in the national capital by Rs 2.5 per kilogram
Indraprastha Gas Ltd, India's leading CNG retailer, has reported a 41 per cent jump in third quarter net profit, as the firm recorded higher sales of CNG to automobiles and piped cooking gas to households and industries. The company clocked a net profit of Rs 392.07 crore in October-December - the third quarter of current fiscal that started in April 2023 - compared to Rs 278.26 crore in the same period in the previous year, it said in a statement. IGL operates city gas distribution (CGD) networks across 30 districts in 11 geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan. The company said it "registered an overall sales volume growth of 4 per cent over the corresponding quarter in the last fiscal, with the average daily sales going up to 8.48 million standard cubic meters per day from 8.12 mmscmd." "Product wise, CNG recorded sales volume growth of 4 per cent in the quarter, while piped natural gas (PNG) recorded sales volume growth of 5 per cent
On a sequential basis, however, the compressed natural gas (CNG) distribution company's net profit fell 26.6 per cent from Rs 534.8 crore registered in Q2 FY24
The price of compressed natural gas (CNG) has been increased to Rs 76.59 per kg in Delhi-NCR; the new price of CNG in Noida is now at Rs 82.20 per kg, and Rs 81.20 per kg in Greater Noida
Railway PSU Container Corporation of India Ltd has signed an agreement with Indraprastha Gas Ltd to explore the possibility of setting up LNG or LCNG infrastructure at its terminals in Uttar Pradesh and Gujarat. This strategic partnership aims to revolutionise the logistics sector replacing diesel with natural gas, the Container Corporation of India Ltd (CONCOR) said in a statement. "CONCOR and IGL have signed a memorandum of understanding (MoU) to explore the possibility of setting up LNG/LCNG infrastructure within the premise of CONCOR terminals. Initially, both LNG and LCNG facilities shall be installed at Dadri (Gautam Budh Nagar) terminal of CONCOR," the statement said. CONCOR and IGL also agree to explore the possibility of transportation of LNG in future through railway rakes from LNG terminals near sea ports like Dahej in Gujarat to the desired locations within India. The MoU signifies the commitment of both CONCOR and IGL to reduce carbon emissions and promote a cleaner, .
Standalone net profit after tax fell to 2.98 billion rupees ($35.82 million) in the three months ended Sept. 30 from 4.04 billion rupees a year earlier
The company announced an interim dividend of Rs 4 per share
The slump in the gas distributor's stock rubbed off on peers Mahanagar Gas and Gujarat Gas, while EV-maker Olectra Greentech advanced