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IGL - Indraprastha Gas News Story

₹516.65 -25.9  -4.8%

Last Trade - 11:26am

Sector
Utilities
Size
Large Cap
Market Cap £3.71bn
Enterprise Value £3.47bn
Revenue £531.2m
Position in Universe 104th / 3106

BUZZ-India's Gujarat Gas hits record high on strong Q3 results

Mon 8th February, 2021 6:38am
** Shares of gas distributor  GGAS.NS  rise as much as 14.3%
to record high of 434 rupees
    ** Co on Friday reported nearly two-fold rise in Dec. qtr
profit, helped by surge in gas sales volume  urn:newsml:reuters.com:*:nFWN2KB0LW
    ** Co's average gas sales volume for Q3 was at 11.44 million
standard cubic meters per day (mmscmd), up by 23%, led by
industrial and compressed natural gas category
    ** Says continues to flow total gas volume above 11.50
mmscmd as against FY20 average sales of 9.44 mmscmd
    ** Currently have a comfortable liquidity position and
prepaid term loans of 9.88 bln rupees during nine months ending
Dec. 31 - GGAS
    ** GGAS has been agile and aggressive with its pricing
strategies, striking a balance between economics of gas and
alternate fuel prices, Motilal Oswal Securities said in a note
    ** Any directive launched as pollution control measure, or
impetus on growing gas consumption in India, would benefit GGAS,
the note said
    ** About 4.9mln shares change hands, 6x 30-DMA of ~814,000
shares
    ** Co shares gained 58.5% in 2020 
    ** Shares of peers Indraprastha Gas  IGAS.NS  up 1.3%,
Mahanagar Gas  MGAS.NS  rise 2.2%; Adani Total Gas  ADAG.NS  up
0.3%

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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