Indraprastha Gas share price hits 52-week high on MSCI inclusion, robust Q2 nos


Shares of Indraprastha Gas touched the 52-week high of Rs 422.90, rising nearly 8 percent intraday on November 8 after company had posted robust numbers in the quarter ended in September.

The company’s Q2 standalone net profit rose 74.5 percent at Rs 381 crore versus Rs 218.4 crore in the quarter ended in June.

The revenue was up 7.4 percent at Rs 1,692.4 crore versus Rs 1,576.1 crore, QoQ.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 9.5 percent at Rs 392.6 crore while the EBITDA margin was up at 23.2 percent QoQ.

However, Morgan Stanley Capital International (MSCI), in its latest Index rejig, on November 7 added company in the MSCI India Index.

At 09:52 hrs, Indraprastha Gas was quoting at Rs 413.50, up Rs 20.65, or 5.26 percent, on the BSE.

News Source:- Moneycontrol

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