The shares of this Gas Distribution company engaged in the business of city gas distribution in Delhi NCT is in focus following the announcement regarding the Record Date for the Bonus Issue.
Price Action
With a market capitalization of Rs. 27,821.53 crores, Indraprastha Gas Limited jumped 1.4 percent to a day’s high of Rs 407.95 today, compared to the previous closing price of Rs. 402.40. The stock had reiterated from its day’s high and was trading at Rs. 397.20 which is 1.29 percent lower than the previous closing price.
What Happened
The company’s stock was in focus after the Bonus Issue Committee announced the record date for the Bonus Issue. Its shareholders will receive bonus shares in a ratio of 1:1. This means that IGL investors will get an additional share for every share they hold.
The Board has set Friday, January 31, 2025, as the Record Date for determining whether shareholders are eligible to receive the aforementioned Bonus Shares. As a result, Monday, February 3, 2025, will be the date of allotment of the Bonus Shares of the Company.
Financials
The company’s revenue stands at Rs 3,780.62 crore, up by 7.4 percent from Rs 3,520.18 crore in Q2FY24-25. This was accompanied by a decrease in profits from Rs 552.67 crore in Q2FY24 to Rs 454.88 crore for Q2FY25.
About the Company
Indraprastha Gas Limited (IGL) is a leading City Gas Distribution company in India operating across 4 states and a presence in 11 geographical locations. They serve over 2.8 million households with approx 5,000 industrial customers and 6,300 commercial customers. The company also operates 884 CNG stations.
Written by Shwetha Sairam
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