Indraprastha Gas trades in green on the bourses

Indraprastha Gas is currently trading at Rs. 449.50, up by 2.35 points or 0.53% from its previous closing of Rs. 447.15 on the BSE.

indraprastha gas increases cng price in delhi
Indraprastha Gas

The scrip opened at Rs. 448.00 and has touched a high and low of Rs. 452.45 and Rs. 447.00 respectively. So far 24770 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 455.00 on 08-Mar-2023 and a 52 week low of Rs. 335.10 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 455.00 and Rs. 425.95 respectively. The current market cap of the company is Rs. 31507.04 crore.

The promoters holding in the company stood at 45.00%, while Institutions and Non-Institutions held 46.48% and 8.53% respectively.

Indraprastha Gas (IGL) has entered into Joint Venture (JV) Agreement with M/s Genesis Gas Solutions (Genesis) to set up India’s first Integrated Smart Meter Manufacturing Plant with Capital Expenditure of Rs 110 crore.

IGL and Genesis have joined hands to establish India’s first Integrated State-of-the-Art Smart Meter Manufacturing Plant to manufacture Diaphragm Gas Meters equipped with IoT technologies like IoRa, LoRaWAN, Bluetooth, NFC, NB-IoT etc. These Smart Meters shall provide much needed solution to manage consumers’ energy demand and metering with utmost accuracy and on real time basis. Initially/ the Smart Meter Manufacturing Plant shall have installed capacity to manufacture 1 Million Meters annually, and is planned to be operational by April 2024.

The proposed JV shall also develop necessary software, interface with in-built smart analytics/ dashboards and predictive maintenance protocols, systems as these are becoming a necessity for running any gas distribution business in an efficient manner. The proposed JV between IGL and Genesis shall have the equity participation from both the partners in the ratio of 51:49 respectively.

Indraprastha Gas is in the business of city gas distribution presently operating in the National Capital Territory of Delhi including adjoining areas of Noida, Greater Noida, Ghaziabad, Gurugram, Meerut (except area already authorised), Shamli, Muzaffarnagar, Karnal and Rewari.

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