Indraprastha Gas hits 52-week low, stock down 25% from its 52-week high
Shares of Indraprastha Gas (IGL) hit a fresh 52-week low at Rs 453.75 in Tuesday’s intra-day trade, and the stock was down 2 per cent in past the two trading days on the BSE amid concerns of aggressive influx of electric vehicles (EVs) into Delhi. IGL supplies compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to the domestic industrial and commercial sectors in Delhi and the NCR.
In the past one month, the stock of IGL has underperformed the market by falling 8 per cent, as compared to 7 per cent rally in the S&P BSE Sensex. It slipped 25 per cent from its 52-week high level of Rs 604 touched on September 14, 2021.
