Indraprastha Gas gains on inking MoU to establish compressed biogas plants
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Indraprastha Gas is currently trading at Rs. 440.35, up by 0.50 points or 0.11% from its previous closing of Rs. 439.85 on the BSE.
The scrip opened at Rs. 437.15 and has touched a high and low of Rs. 441.25 and Rs. 426.65 respectively. So far 89991 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 515.55 on 09-May-2023 and a 52 week low of Rs. 375.80 on 01-Nov-2023.
Last one week high and low of the scrip stood at Rs. 459.85 and Rs. 426.65 respectively. The current market cap of the company is Rs. 30611.03 crore.
The promoters holding in the company stood at 45.00%, while Institutions and Non-Institutions held 45.65% and 9.36% respectively.
Indraprastha Gas (IGL) has signed Memorandum of Understanding (MoU) with two technology partners during India Energy Week 2024 to establish Compressed Biogas (CBG) plants across four states: Delhi, Haryana, Rajasthan, and Uttar Pradesh. Additionally, IGL has already empaneled two other partners for the same purpose.
The biogas produced from these 19 plants shall be fed into IGL’s City Gas Distribution network. This partnership aims to produce 0.45 MMSCMD (Million Metric Standard Cubic Meters per Day) of biogas from waste, equivalent to around 5% of IGL's daily requirements.
Indraprastha Gas is in the business of city gas distribution presently operating in the National Capital Territory of Delhi including adjoining areas of Noida, Greater Noida, Ghaziabad, Gurugram, Meerut (except area already authorised), Shamli, Muzaffarnagar, Karnal and Rewari.
