Indraprastha Gas Limited (IGL) has received a significant boost as the domestic gas allocation from GAIL (India) Limited has been revised upwards by 31%, effective from 16th January 2025. This revision will increase the share of Domestic Gas in IGL’s CNG segment from 37% to 51%, leading to improved cost efficiency.
Additionally, IGL has secured additional RLNG volumes on a term basis from a major supplier, amounting to around 1.0 MMSCMD at competitive prices. This strategic move is expected to enhance the company’s profitability.
As per the company, the above revision and signing of additional volumes shall have a positive impact on profitability of the company.
In the meantime, IGL shares opened at ₹407.60 today, reaching a high of ₹435.95 and a low of ₹407.00. The stock has a 52-week high of ₹570.35 and a 52-week low of ₹306.10, reflecting notable volatility over the past year. As of 3:01 PM the shares were trading 3.91% higher at Rs 423.40.
