Indraprastha Gas logo

IGL - Indraprastha Gas News Story

₹498.1 -17.1  -3.3%

Last Trade - 11:23am

Sector
Utilities
Size
Large Cap
Market Cap £3.50bn
Enterprise Value £3.27bn
Revenue £528.1m
Position in Universe 108th / 3109

BUZZ-Gas companies gain as India commits to bring natural gas under GST

Thu 18th February, 2021 4:55am
** Shares of Indian gas cos ONGC  ONGC.NS , GAIL  GAIL.NS ,
Indraprastha Gas  IGAS.NS  and Gujarat State Petronet  GSPT.NS 
rise 4.9%-13.1%
    ** India is committed to bring natural gas into goods and
services tax regime to make prices cheaper and uniform across
country, Prime Minister Narendra Modi said on Wednesday
 urn:newsml:reuters.com:*:nFWN2KN0CS
    ** Move is a "gamechanger" for Indian gas companies as
consumption will get a boost - Sumit Pokharna, vice president,
Kotak Securities
    ** Margins likely to improve as cos might not pass on full
benefit to consumers, capacity utilisation to also improve -
Pokharna
    ** India spending 7.5 trln rupees ($103.06 bln) over 5 years
to build its oil and gas infrastructure, Modi added
    ** IGAS, GSPT hit record highs, ONGC and GAIL reach around
5-wk highs
    ** Stocks up 8%-10% YTD, up to last close; GSPT and GAIL saw
muted gains in 2020, IGAS climbed ~17%, while ONGC slid ~28%
    ** S&P BSE Oil & Gas Index  .BSEOIL  advances 3.4% on
Thursday to highest since Nov. 21, 2019

($1 = 72.7750 Indian rupees)

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.