HDFC Mutual Fund Bought 5,00,066 Shares & Stock Down 37 Per Cent From Its 52-Week Low; Board Likely To Announce Bonus Shares
The stock is down by 37 per cent from its 52-week high of Rs 570.60 per share.
Indraprastha Gas Limited inform that a meeting of the Board of Directors is scheduled to be held on December 10, 2024, inter-alia to consider the proposal for issue of bonus shares to the equity shareholders of the company in the ratio, as may be fixed, subject to the shareholders' approval.
Indraprastha Gas Limited (IGL), a joint venture between GAIL (India) Limited and Bharat Petroleum Corporation Limited (BPCL), was established in 1998. Primarily operating in the National Capital Territory of Delhi, IGL has expanded its reach to neighbouring regions such as Noida, Greater Noida, Ghaziabad, Hapur, Gurugram, Meerut, Shamli, Kanpur, Muzaffarnagar, Karnal, Rewari, Hamirpur, Fatehpur, Ajmer, Pali, and Rajasmand. The Government of NCT of Delhi holds a 5 per cent stake in the company, further solidifying its commitment to providing clean and efficient energy solutions to the region.
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IGL has a market cap of over Rs 25,000 crore with a 1-year CAGR of 40 per cent. The company reported amazing numbers in its Quarterly Results and annual results. The company has been maintaining a healthy dividend payout of 28 per cent with a dividend yield of 2.50 per cent. The stock has an ROE of 22 per cent and a ROCE of 28 per cent.
Recently, HDFC Mutual Fund bought 5,00,066 shares via the open market. The stock is down by 37 per cent from its 52-week high of Rs 570.60 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.