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04-Apr2018

Indraprastha Gas advances on hiking prices of CNG, PNG

Indraprastha Gas is currently trading at Rs. 285.10, up by 6.65 points or 2.39% from its previous closing of Rs. 278.45 on the BSE.

The scrip opened at Rs. 278.50 and has touched a high and low of Rs. 286.80 and Rs. 276.00 respectively. So far 64,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 344.20 on 01-Jan-2018 and a 52 week low of Rs. 193.75 on 23-May-2017.

Last one week high and low of the scrip stood at Rs. 286.80 and Rs. 273.10 respectively. The current market cap of the company is Rs. 19,953.00 crore.

The promoters holding in the company stood at 45.00%, while Institutions and Non-Institutions held 43.44% and 11.56% respectively.

Indraprastha Gas (IGL) has hiked the price of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG). This step has been taken after the government hiked the price of domestically produced natural gas from April 1.

The price of CNG in Delhi has been hiked by 90 paise per kg to Rs 40.61 per kg. The CNG price in Noida, Greater Noida and Ghaziabad has been hiked by Rs 1 per kg to Rs 47.05 per kg. The price of CNG being supplied in Rewari has been increased by 95 paise per kg to Rs 51.62 per kg.

The company has also hiked its domestic PNG prices. The consumer price of PNG to the households in Delhi has been increased by Rs 1.15 per standard cubic metres (scm) to Rs 27.14 per scm. The applicable price of domestic PNG to households in Noida, Greater Noida and Ghaziabad would be Rs 28.84 per scm, which has been increased by Rs 1.20 per scm.

Indraprastha Gas (IGL) is engaged in distribution of CNG and PNG in Delhi. IGL laid the network for the distribution of natural gas in the National Capital of Delhi to consumers in the domestic, transport, and commercial sectors.



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