India's Indraprastha Gas falls on reduction in domestic gas allocation

Indraprastha Gas

18/10/2024 06:39

** Shares of Indraprastha Gas  IGAS.NS  down 10.8% to 450.20
rupees
    ** The natural gas distribution company said there has been
around 21% reduction in domestic gas allocation to co effective
from Oct 16, which will have an adverse impact on its
profitability
    ** Co also said it is in discussion with key stakeholders to
minimise the impact
    ** IGAS among top pct losers in NIFTY 500 Index  .NIFTY500  
    ** Relative strength index falls to 21, suggesting stock
might be oversold
    ** Day's losses trim IGAS's YTD gains to around 7%; NIFTY500
rises around 20%

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))