During Thursday’s trading session, the shares of a leading City Gas Distribution company in India surged nearly 2.5 percent to Rs. 399.5 on BSE, after the company revised the record date for its 1:1 bonus issue to tomorrow, 31st January 2025.
With a market capitalisation of Rs. 27,821.5 crores, at 12:28 p.m., the shares of Indraprastha Gas Limited were trading in the green at Rs. 397.45, up by around 2 percent, as against its previous closing price of Rs. 389.75.
What’s the News
According to the latest filings with the stock exchanges, Indraprastha G Limited (IGL) has revised the record date for its 1:1 bonus issue to tomorrow, 31st January 2025.
Originally, the deemed date of allotment was set for Monday, February 3, 2025, being the next working date of the record date. However, due to Saturday, February 1, 2025, being declared as a working/trading day on account of the Union Budget 2025-26, the Bonus Issue Committee has now revised the deemed date of allotment to Saturday, February 1, 2025.
As a result, the bonus shares will be available for trading from Monday, February 3, 2025.
On 10th December 2024, the Board of IGL approved the issuance of bonus shares in a 1:1 ratio, meaning that eligible shareholders will receive 1 new fully paid-up equity share of Rs. 2 each for every 1 existing fully paid-up equity share of Rs. 2 each held as on the record date.
Financials
Indraprastha Gas reported a significant growth in revenue from operation experiencing a year-on-year increase of nearly 6 percent, rising from Rs. 3,556 crores in Q3 FY24 to Rs. 3,759 crores in Q3 FY25.
However, during the same period, the company’s net profit decreased fr Rs. 475 crores to Rs. 325 crores, representing a decline of around 31.6 percent YoY.
Also read…..
Key Financial Ratios
In terms of key financial metrics, Indraprastha Gas has a Return on Equi (RoE) of 22.1 percent and a return on capital employed (RoCE) of 28.4 percent. Additionally, the company’s debt-to-equity ratio stands at 0.01.
Stock Performance
The stock has delivered negative returns of nearly 6.6 percent in one year, as well as around 28 percent returns in the last six months. Likewise, the shares of Indraprastha Gas have given negative returns of about 2.3 percent in the last one month.
About the company
Incorporated in 1998, Indraprastha Gas Limited, a joint venture (JV) between GAIL (India) Limited and Bharat Petroleum Corporation Limited (BPCL), is engaged in the business of city gas distribution across different locations in India.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
