The shares of the company were trading at Rs 367 apiece, as seen at 9.42 am.
The firm has signed Memorandum of Understanding (MoU) with two technology partners to set up compressed biogas plants in Delhi, Haryana, Rajasthan and Uttar Pradesh, it said.
The country’s largest city gas distribution company said the CBG plants are expected to be set up in the next 12-18 months.
Lower running costs make the alternative to petrol-fuelled cars more attractive to customers
CGD players Indraprastha Gas, Mahanagar Gas and Gujarat Gas ended the day with gains of 3.07 percent, 1.45 percent and 1.55 percent, respectively.
On Friday, prices of natural gas were hiked by a steep 40 per cent to record levels, in sync with the strong energy rates globally.
Since all the positives are already factored in by the Street, there might be a pause before markets move upward with an equal thrust, says Umesh Mehta of Samco Securities.
Traders should also align their trades accordingly and prefer hedged bets in F&O space as volatility will remain high due to scheduled derivatives expiry
The Memorandum of Understanding (MoU) was signed Tuesday in presence of IGL Managing Director E S Ranganathan, Tata Power CEO and Managing Director Praveer Sinha, GAIL Chairman and Managing Director B C Tripathi, and other senior officials of both the companies, it said.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 31 points or 0.27 percent. Nifty futures were trading around 11,415-level on the Singaporean Exchange.
Of the 34 Nifty companies that have announced their earnings, 25 have either met or exceeded consensus estimates on both the PAT and EBITDA front
"Nifty has immediate resistance zone at 10,420-10,440 levels. Crossing this zone on sustainable basis, next zone for index is seen at 10,560-10,630 where 50 percent of rise and February congestion highs are seen," Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management said in an exclusive interview with Moneycontrol's Kshitij Anand.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Bharat Electronics and buy IndusInd Bank and Indraprastha Gas.
In a first, the government on June 23 launched a programme to run two wheelers on compressed natural gas (CNG), as it explores options to curb pollution
In CNBC-TV18's popular show Bull's Eye, SP Tulsian of sptulsian.com shares trading strategy of the day.
Rajesh VedVyas, managing director of Indraprastha Gas Limited (IGL) hopes that the company's performance in the second half to be on expected lines.
Indraprastha Gas is confident of being able to maintain 25% Compound Annual Growth Rate (CAGR) in volumes over FY10- FY13, said Rajesh Vedvyas, managing director of the company to CNBC-TV18.
Technical analyst Mitesh Thacker is bullish on the prospects of State Bank of India, Indraprastha Gas Limited, Reliance Communications and Siemens. He advises traders to buy into these stocks.