Indraprastha Gas Ltd (IGL) share was trading higher ahead of the firm's Q1 earnings set to be announced later in the day. Indraprastha Gas stock rose up to 1.21% to Rs 418.65 against previous close of Rs 413.45 on BSE. Total 0.50 lakh shares changed hands amounting to turnover of Rs 2.07 crore.
The large cap stock hit 52 week high of Rs 534.40 on February 7, 2020 and 52 week low of Rs 284.55 on March 19, 2020.
Market cap of the clean energy firm stood at Rs 29,004 crore.
Indraprastha Gas share stands higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
Indraprastha Gas share has gained 25.74% in one year but lost 3.26% since the beginning of this year. In fourth quarter of previous fiscal, IGL reported a 12 per cent rise in net profit on higher gas sales.
The firm that supplies CNG to automobiles and piped cooking gas to household kitchens in national capital and adjoining towns, reported a net profit of Rs 252.63 crore in January-March compared with Rs 224.72 crore in the same period a year ago.
Net profit in FY20 rose 44 per cent to Rs 1,135 crore from Rs 786 crore in FY19, driven by higher volumes and reduction in corporate tax rates.
Meanwhile, Sensex and Nifty were trading flat in afternoon session after rising in early trade. Erasing early gains, Sensex was trading 34 points lower at 38,809. The Nifty 50 index, on the other hand, gained mere 1 point to 11,474.