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Indraprastha Gas surges on entering into MoU with Tata Power

Indraprastha Gas is currently trading at Rs. 304.55, up by 5.00 points or 1.67% from its previous closing of Rs. 299.55 on the BSE.

The scrip opened at Rs. 305.00 and has touched a high and low of Rs. 306.40 and Rs. 303.00 respectively. So far 23903 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 320.30 on 02-Aug-2018 and a 52 week low of Rs. 215.20 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 310.90 and Rs. 298.10 respectively. The current market cap of the company is Rs. 21339.52 crore.

The promoters holding in the company stood at 45.00%, while Institutions and Non-Institutions held 43.64% and 11.36% respectively.

Indraprastha Gas (IGL) and Tata Power have joined hands by entering into the Memorandum of Understanding (MoU). The pact signed between Tata Power and IGL is for green energy solutions including rooftop solar projects, various integrated services including setting up of commercial scale EV charging/battery swapping stations.

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.