Indraprastha Gas Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 39291.04 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1440.74 Crore, up 125.62 % from last quarter Sales of Rs 638.57 Crore and down -14.87 % from last year same quarter Sales of Rs 1692.45 Crore Company reported net profit after tax of Rs 351.61 Crore in latest quarter.
Investment Rationale
The stock has resumed the uptrend after retesting the trendline support at Rs 530 levels. A sustained trade above Rs 580 will extend the gains to levels of R 610. RSI, too, has turned northwards after taking support at the Rs 60-level being the upper end of the bear territory, forming the strong bullishness dominant in the stock.
Promoter/FII Holdings
Promoters held 45 per cent stake in the company as of Sept 30, 2020, while FIIs held 21.3 per cent, DIIs 7.4 per cent and public and others 26.3 per cent.
