Indraprastha Gas trades with traction on the bourses

Indraprastha Gas is currently trading at Rs. 286.90, up by 6.10 points or 2.17% from its previous closing of Rs. 280.80 on the BSE. The scrip opened at Rs. 282.90 and has touched a high and low of Rs. 289.15 and Rs. 282.90 respectively. So far 13877 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 328.50 on 09-May-2013 and a 52 week low of Rs. 236.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 297.10 and Rs. 278.50 respectively. The current market cap of the company is Rs. 3987.90 crore. The promoters holding in the company stood at 45.00% while Institutions and Non-Institutions held 38.32% and 16.68% respectively. Indraprastha Gas (IGL) has entered into an agreement with Bharat Petroleum Corporation (BPCL) for selling BPCL’s MAK Lubricants at its Gas Stations across Delhi and adjoining towns. The agreement is initially valid for a period of 5 years. IGL currently has a network of 115 CNG Stations across Delhi/NCR and lakhs of customers visit these outlets every day. BPCL is looking to sell 100 tonnes of lubricants through IGL network in 2014-15. Indraprastha Gas, incorporated in 1998, is engaged in distribution of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Delhi. In 1999 the company took over Delhi City Gas Distribution Project from GAIL (India). 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.