Latest news with #IndraprasthaGasLtd
Mint
29-05-2025
- Business
- Mint
MarketSmith India's best stock recommendations for today, 29 May
On Wednesday, the Nifty 50 declined 0.30%, closing at 24,752.45, as markets faced selling pressure driven by fund outflows, largely attributed to large block deals and heightened activity in the primary market. Domestically, profit booking near the key resistance and supply zone added to the downward pressure. Sectoral weakness in FMCG, auto, pharma, and metal stocks further weighed on the index. Overall, the market remained cautious ahead of key upcoming events, including the release of GDP growth data and the monthly F&O expiry. Two stock recommendations for today, 29 May, by MarketSmith India: Indraprastha Gas Ltd (current price: ₹213) Why it's recommended: Expansion into new markets, government support, and regulatory moat Key metrics: P/E: 21.37 | 52-week high: ₹ 285.18 | Volume: ₹ 113.69 crore Technical analysis: Reclaimed 200-EMA Risk factors: Policy and regulatory risks, competition and market dynamics, technological disruptions Buy at: ₹213 Target price: ₹245 in three months Stop loss: ₹199 Also Read: Four stocks to watch as India's space economy eyes $44 billion by 2033 SBFC Finance Ltd (current price: ₹108.50) Why it's recommended: Focused niche in secured MSME lending, low credit risk with secured portfolio Key metrics: P/E: 33.64 | 52-week high: ₹112.41 | Volume: ₹88.24 crore Technical analysis: 21-DMA bounce Risk factors: Geographical concentration, interest rate sensitivity Buy at: ₹108.50 Target price: ₹122 in three months Stop loss: ₹103 Nifty 50: How the benchmark index performed on 28 May The Nifty 50 opened on a muted note at 24,832 and traded within a narrow range of 24,737–24,864, eventually closing near the day's low at 24,752. After encountering resistance near 25,000, the index registered its second consecutive session of losses, accompanied by higher trading volumes, indicating selling pressure at higher levels. On the sectoral front, all major indices ended in the red, except Media and PSU Banks, which showed some resilience. The advance-decline ratio remained neutral, closing near 1:1, reflecting broad-based market indecision. The index failed to sustain above 25,000 but continues to trade above all its key moving averages. It has been consolidating within a defined range of 25,200–24,400 over the past couple of weeks. Momentum indicators reflect indecision, with the RSI oscillating in a range-bound zone, suggesting a lack of directional strength. Meanwhile, the daily MACD has formed a negative crossover, indicating potential bearish momentum, though it remains above the central (zero) line, which offers a mildly positive undertone. According to O'Neil's methodology of market direction, the Nifty 50 transitioned from a "Rally Attempt" to a 'Confirmed Uptrend". Also Read: This luggage leader is staging a turnaround. But can it overcome its baggage? The index is currently encountering strong resistance in 25,000–25,200, which aligns with a previously established supply zone. Recent price action suggests that a decisive breakout and sustained move above this resistance band is critical to reaffirm the bullish trend. In the absence of such a breakout, the index is expected to remain range-bound and volatile in the near term. On the downside, key support levels are identified between 24,500 and 24,400, which could act as a cushion against further declines. How did the Nifty Bank perform yesterday? On Wednesday, the Nifty Bank opened lower and traded in a narrow range before gaining approximately 64 points (+0.12%). The index formed a bullish candle despite exhibiting a lower-high and lower-low pattern on the daily chart, reflecting ongoing consolidation over the past several weeks. The Nifty Bank opened at 55,328.60, fluctuated between a high of 55,521.80 and a low of 55,235.55, and closed at 55,417. A sustained breakout above 56,000 would likely indicate the initiation of a new upward trend. Technically, the index remains above its key moving averages and near its all-time highs, despite the current sideways movement. However, momentum indicators suggest a pause in bullish sentiment, with the relative strength index (RSI) at 59, indicating neutrality, and the MACD showing a negative crossover, both appearing relatively flat. According to O'Neil's methodology of market direction, the Nifty Bank transitioned from an "Uptrend Under Pressure" to a 'Confirmed Uptrend". Also Read: Metro Brands' FY25 is a tale of two halves. Can the recovery be sustained? The Nifty Bank is currently navigating in a sideways trading range, with a decisive breakout above 56,000 being key to confirming the continuation of its bullish momentum. Without this breakout, the index is expected to remain in its consolidation phase. A sustained close above 56,000 could pave the way for gains toward 57,500–58,800 in the near term. On the downside, immediate support levels are identified around 55,000, followed by 54,500. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543) Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
06-05-2025
- Business
- Economic Times
Stock Radar: IGL breaks out from downward sloping channel; stock is still down 27% from high – what should investors do?
Indraprastha Gas Ltd (IGL), part of the gas sector, broke out from a downward sloping channel on the daily charts which has opened room for the stock to head higher if the momentum traders with a high-risk profile can look to buy the stock for a target of Rs 240-245 in the next 1-2 months, suggest stock hit a high of Rs 285 on September 2, 2024, but it failed to hold the momentum. It closed at Rs 206 on May 5,
Business Standard
05-05-2025
- Business
- Business Standard
Indraprastha Gas Ltd gains for third straight session
Indraprastha Gas Ltd is quoting at Rs 201.32, up 4.34% on the day as on 12:49 IST on the NSE. The stock is down 9.1% in last one year as compared to a 8.97% jump in NIFTY and a 13.33% jump in the Nifty Energy index. Indraprastha Gas Ltd gained for a third straight session today. The stock is quoting at Rs 201.32, up 4.34% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.44% on the day, quoting at 24454.7. The Sensex is at 80801.42, up 0.37%. Indraprastha Gas Ltd has gained around 7.19% in last one month. Meanwhile, Nifty Energy index of which Indraprastha Gas Ltd is a constituent, has gained around 10.03% in last one month and is currently quoting at 34138.75, up 1.25% on the day. The volume in the stock stood at 82.78 lakh shares today, compared to the daily average of 72.8 lakh shares in last one month. The benchmark May futures contract for the stock is quoting at Rs 201.58, up 4.68% on the day. Indraprastha Gas Ltd is down 9.1% in last one year as compared to a 8.97% jump in NIFTY and a 13.33% jump in the Nifty Energy index. The PE of the stock is 18.41 based on TTM earnings ending March 25.
Business Upturn
28-04-2025
- Business
- Business Upturn
Indraprastha Gas shares surge 3% as Q4 net profit jumps 22% to Rs 349.2 crore
Indraprastha Gas Ltd. (IGL) shares rose 3% following the announcement of a strong financial performance for the quarter ended March 31, 2025. As of 10:12 AM, the shares were trading 3.25% higher at Rs 183.99. The company reported a 22.2% increase in its standalone net profit, which reached Rs 349.2 crore, surpassing analyst estimates of Rs 330 crore, as tracked by Bloomberg. This marks a significant improvement from the Rs 285.8 crore net profit reported in the previous quarter, ending Dec. 31, 2024. Advertisement IGL's standalone revenue for the quarter stood at Rs 3,950 crore, reflecting a 5.1% sequential growth from the previous quarter's Rs 3,759 crore, surpassing the Bloomberg estimate of Rs 3,863 crore. The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged 37.6%, totalling Rs 497.2 crore compared to Rs 363.6 crore in Q3 FY25. This resulted in an EBITDA margin of 12.6%, an improvement from 9.6% in the December quarter. The company's performance exceeded expectations, with a rise in adjusted EBITDA margin to Rs 4.64 per standard cubic meter (SCM) from Rs 4.3 per SCM in the previous quarter. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Deccan Herald
21-04-2025
- Business
- Deccan Herald
Govt tweaks city gas policy, moves to advance quarterly allocations
With city gas retailers like Indraprastha Gas Ltd, Mahanagar Gas Ltd and Adani-Total Gas Ltd reporting pressures on margins after the allocation of cheaper administered price or APM gas to them was cut without giving enough advance notice, the ministry decided to tweak the allocation policy.
