Indraprastha Gas News

Voting Results of Postal Ballot along with Scrutinizer Report

​​The recent addition in this category are utility stocks, like city gas distributors (CGD). Because these are boring businesses, one will not find a gas distribution company suddenly witnessing a sharp increase in topline or bottomline because the underlying business is such. On the contrary, there are chances, some change in regulation may bring pressure on their bottom line.

INDRAPRASTHA GAS LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/07/2024 ,inter alia, to consider and approve Unaudited Financial Results for the quarter ended June 30, 2024.

Analysts expect Nifty to continue its upward trend towards 24,780 and 24,965. Strong performance predicted for stocks such as ITC, HUL, and Reliance. Opportunities seen in oil & gas sector and IT stocks like HCLTech. Investors advised to monitor support levels and consider profit-taking.

The Nifty future closed positive with gains of 0.75% at 24047 levels on Thursday. India VIX was up by 0.78% from 14.04 to 14.15 levels.

Closure of Trading Window

Vacation of office of Director

"With the exponential growth being witnessed in the electric vehicle market, demand for batteries has risen significantly. Many rare earth metals go into battery manufacturing, so IGL thinks recycling them could be a lucrative option, especially when not many companies are doing it," said another senior industry executive.

"With the exponential growth being witnessed in the electric vehicle market, demand for batteries has risen significantly. Many rare earth metals go into battery manufacturing, so IGL thinks recycling them could be a lucrative option, especially when not many companies are doing it," said another senior industry executive.

Shri Deepak Mishra has completed his term as Independent Director of the Company.

Notice of Postal Ballot and remote e-voting

Cessation of Independent Director on completion of term.

Gas stocks have been underperforming the market for a while. Several factors contribute to this, including stagnant volume growth, companies struggling to expand into new areas, and the latest challenge from electric vehicles (EVs). An announcement about aggressively promoting EVs in Delhi bought additional pressure on stocks like IGL. While EVs are expected to dominate in the future, does this spell the end for gas companies? Probably not. There are still many other uses for gas, and the negative narrative might be overstated. Additionally, these companies have strong cash reserves and cash flows from their existing businesses, which they can use to explore new opportunities within the EV ecosystem. Also at time when volatile market conditions, these stocks tend to weather the storm better.

The Petroleum and Natural Gas Regulatory Board (PNGRB) has withdrawn notices to declare city gas networks in 54 licensed areas as common carriers, ending a legal tussle with affected city gas distributors.

Annual Secretarial Compliance Report

Megha City Gas Distribution (MCGDPL), a wholly-owned subsidiary, has decided to consolidate operations and reached out to state-run Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Indraprastha Gas, among other players. It ventured into city gas distribution under the brand name Megha Gas in 2015 and continued to operate as MEIL till FY22.

Appointment of Prof. Dr. Simrit Kaur as an Additional and Independent Director w.e.f. May 15, 2024

IT stocks presented a muted show as investors turn cautious ahead of key US data that will determine future interest rate trends. Sensex dipped 118 points to settle at 72,987. Nifty shed 17 points to end at 22,200.

Earning call transcript.

Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.

Stocks that were in focus include names like IRB Infra, which fell 3%, IGL, which was down 2.48%, and Dr Reddy's, whose shares declined 2.8% on Wednesday.

IGL Share Price: Indraprastha Gas (IGL) shares surged 7% after reporting a 16% YoY profit increase to Rs 383 crore in Q4. Despite revenue decline due to lower gas prices, sales volume rose

Indraprastha Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2023.

Shares of L&T, Tata Power, Canara Bank, Hero Moto and BSE will be in focus today as the companies will announce their fourth quarter results.

Indraprastha Gas Ltd, India's largest CNG retailer, on Tuesday reported a 16% rise in March quarter net profit as it sold more gas. The net profit of Rs 383 crore in the latest January-March quarter was compared to Rs 329.75 crore profit registered a year ago, the company said in a statement.

Recommendation of Final Dividend

Appointment of Additional and Independent Director

Appointment of Additional and Independent Director

Approval of Audited Financial Results for the year ended March 31, 2024 and recommendation of final dividend for FY 2023-24

Conference call - change in time

Indraprastha Gas corrected from highs above 600 levels, may break out from a Triangle pattern with a close above 460-470 levels. Short-term traders can monitor for a move towards 500 levels.

Conference Call to discuss Audited Financial Results for quarter/ year ended March 31, 2024

Change in Directorship

INDRAPRASTHA GAS LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/05/2024 ,inter alia, to consider and approve standalone and consolidated Audited FinancialResults for the quarter/year ended March 31, 2024 and also to consider recommendation of final dividend for the Financial Year 2023-24

Change in Directorship

Indraprastha Gas fell 28% from record high but correction expected. Traders advised buying for Rs 530-560 target. Clean energy focus. Stock shows signs of bullish trend with support at lower channel.

Compliance certificate issued by Company Secretary in Practice for the year ending March 31, 2024.

"The BJP manifesto has a strong positive read-through for Indian equities," said Seshadri Sen, head of research at Emkay Global Financial Services. "Railways, defence, housing mortgages, tourism, and aviation are direct beneficiaries; while textiles and pharma API are probable winners."

Investors analyze BJP's manifesto for economic changes and governance reforms. CLSA and UBS highlight infrastructure focus, governance reforms, and stock market impacts. BJP's policies create opportunities for specific industries. Stock recommendations include sectors like tourism, EVs, and natural gas.

Compliance certificate pursuant to Regulation 7 (3) of Listing Regulations.