Indraprastha Gas logo

IGL - Indraprastha Gas News Story

₹542.5 16.7  3.2%

Last Trade - 09/04/21

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

BUZZ-India's Indraprastha Gas jumps as strong volumes drive profit growth

Mon 27th May, 2019 8:45am
** Shares of Indraprastha Gas Ltd  IGAS.NS  rise 8% to 339.3
rupees, highest since Jan 2018
    ** March-qtr profit rose ~29% to 2.26 bln rupees ($32.55
mln), beating analysts' estimates for profit of 2.05 bln rupees,
city gas distributor said after market hours on Friday
 urn:newsml:reuters.com:*:nFWN2300CN
    ** Q4 overall sales volume jumped 17% YoY
    ** At a time when gas prices were relatively high vs.
alternative fuels, the sales growth "significantly strengthens
our conviction in the Indian gas story as focus on pollution and
gas infrastructure rises" - Morgan Stanley in May 26 note
    ** Maintains 'overweight' with TP of 351 rupees; stock top
pick in South Asian gas utilities - MS
    ** Citi raises TP to 380 rupees from 365 rupees, rating
'buy'
    ** Gujarat Gas Ltd  GGAS.NS  posted a 77% jump in qtrly net
profit after tax earlier this month 
    ** ~6.9 mln shares of Indraprastha Gas change hands, vs
30-day avg of 1.3 mln shares
    ** Indraprastha Gas shares mark sharpest intraday jump since
Nov 2018; stock up 17.5% this year as of last close

($1 = 69.4300 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.