Indraprastha Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2022.

The Centre had earlier this year adopted a new gas pricing formula and imposed cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent.

Both companies are in a prime position to benefit from the nation's infrastructure push. In the near-to-medium term, companies have enough legs to grow up to 2x GDP.

Railway PSU Container Corporation of India Ltd has partnered with Indraprastha Gas Ltd to establish LNG or LCNG infrastructure at its terminals in Uttar Pradesh and Gujarat. The strategic partnership aims to replace diesel with natural gas in the logistics sector. The initial facilities will be installed at CONCOR's Dadri terminal.

The midcap and smallcap stocks have seen a strong rally over the last six months and have outperformed the headline Nifty50 index. While the Nifty Midcap 100 and Nifty Smallcap 100 have given returns of over 27% and 40%, respectively, over the last six months, the returns by Nifty have been at 8%.

Short-term traders can look to go short on the stock for a possible target of Rs 325 in the next 3 months, suggest experts.

In an interview to ET, Kamal Kishore Chatiwal said the government should evaluate subsidising piped natural gas (PNG) supplies for poor households to preserve its competitiveness with LPG, which is attracting expanding subsidies in different states ahead of upcoming polls.

Prabhudas Lilladher recommended hold rating on Indraprastha Gas with a target price of Rs 406 in its research report dated November 03, 2023.

Indraprastha Gas Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 27898.53 Crore) operating in Gas & Petroleum sector.

The company’s revenue from operations came in at Rs 3,822.53 crore in the second quarter, a decline from Rs 3,922 crore recorded in the same period last year.

The company’s revenue from operations came in at Rs 3,822.53 crore in the second quarter, a decline from Rs 3,922 crore recorded in the same period last year.

While mid-cap and small-cap indices have fallen about 6% in the previous six trading sessions, about 23 stocks in the Midcap 150 index and 55 stocks in the Smallcap 250 index have fallen more than 10%.

Out of the 60 stocks below this long-term trend indicator, Navin Fluorine International, Indraprastha Gas, Gujarat Gas, Biocon, HDFC Bank, Pidilite Industries, Kotak Mahindra Bank, Dabur India, BPCL, and Wipro are among the notable names. The Nifty has dropped 4.8% in the past week.

With the proposed road map by the Delhi government mandating a phased shift of all cab aggregators and delivery vehicles, to electric by 2030 seen impacting Indraprastha Gas (IGL), analysts are expecting its shares to continue underperforming in the near term. The company derives over 70% of its revenues from compressed natural gas (CNG).

Around 20 insurance companies collectively own 77.30 million shares, representing an 11.04% stake in IGL

The price action was accompanied with significant volume action as over 58.85 lakh shares were on the block around 10 am on the NSE.

Cab aggregators make up about 30% of these volumes, with Uber, Ola, and e-commerce delivery services being the largest contributors

The policy also paves the way for giving legal status to bike taxis in Delhi with a set of guidelines.

India VIX was down by 3.39% from 11.07 to 10.69 levels on Tuesday. Volatility slightly cooled down but hovered in the previous days range and lacked momentum in the market.

In this analysis, ETMarkets examines the recent decline in Relative Strength Index (RSI) for 10 stocks, shedding light on the importance of RSI in assessing stock movements.

At their session lows, both benchmarks were down by more than $5, and heating oil and gasoline futures also fell by more than 5%. Crude oil prices have fallen by about $10 since last week's settlement.

Indraprastha Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2022.

Surpassing the 50-Day SMA is a notable technical achievement for these major stocks, often indicating short to mid-term positive trends.

Surpassing the 100-day SMA is a significant technical milestone for these companies, indicating potential shifts in market sentiment and short-term momentum.

The stocks that crossed their 50-day SMA on August 31 reflect strong market sentiment and growth potential.

Crossing the 200-day SMA indicates notable technical achievements and provides insights into potential shifts in investor sentiment and medium-term trends.

Promoters held 45.0 per cent stake in the company as of 30-Jun-2023, while FIIs owned 21.94 per cent, DIIs 20.17 per cent.

HDFC Securities is bullish on Indraprastha Gas has recommended buy rating on the stock with a target price of Rs 575 in its research report dated July 26, 2023.

Emkay Global Financial recommended hold rating on Indraprastha Gas with a target price of Rs 500 in its research report dated July 26, 2023.

The question is not about when volumes will recover, but over whether they will recover at all. Some analysts see Indraprastha Gas Ltd as an attractive `buy’ option, others advise caution.

The city gas sector accounted for just 9% of the country's consumption of imported gas during the April-June period, down from 17% a year earlier. Their consumption of domestic gas rose 31% in a year to 2,490 million metric standard cubic meter (mmscm) while their use of imported gas fell to 703 mmscm.

ICICI Securities is bullish on Indraprastha Gas recommended buy rating on the stock with a target price of Rs 615 in its research report dated July 24, 2023.

Jefferies highlighted that the adoption of electric vehicle in the NCR region poses a medium-term risk to 30 percent of the company’s overall volume.

The net revenue from operations came in at Rs 3,406.98 crore, which is 7 percent higher than Rs 3,193.85 crore recorded in Q1FY23.

Other income during the quarter rose to Rs 45.66 crore against Rs 30.74 crore in the previous year period. The company's total income rose 6.9% YoY to Rs 3,807.5 crore for the June quarter. The same was Rs 3,561.08 crore in the same quarter of last year.

Indraprastha Gas, incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 34646.54 Crore) operating in Gas & Petroleum sector.

The capital expenditure for the said smart meter manufacturing plant is Rs 110 crore.

PNGRB said an entity could be considered operating prior to the coming into existence of the regulator if it had procured the necessary equipment for erecting the city gate station (CGS). ATGL application, it said, stated that "allotment of land for CGS has been taken from Noida authority."

Several stocks including Gujarat State Fertilizers & Chemicals, Marico, and GAIL (India) showcased significant progress by crossing their 50-day Simple Moving Average (SMA) on July 5, 2023, indicating positive trend reversals. Other standout performers were Godfrey Phillips India, Indraprastha Gas, Triveni Engineering & Industries, NMDC, Deepak Fertilisers & Petrochemicals Corporation, and Adani Green Energy.

“The key concern is we are entering into the election phase and Opec wants to support crude at $75-80 per barrel and above given the fiscal balance for most of these Opec countries, particularly Saudi is around those levels. So, in an election period, crude prices upwards of $75-80 may pose concerns for OMCs down the line. That is the key concern.”

The Relative Strength Index (RSI) is an important tool for analyzing stock movement and identifying potential opportunities. RSI indicates whether a stock is overbought or oversold and helps understand its strength and momentum. A declining RSI may signal a loss of upward momentum, while a high RSI suggests the stock may be overbought. RSI can be used alongside other indicators to validate trading signals and support investment decisions. ETMarkets has picked 10 stocks with declining RSI for further exploration.