Connect with us

Business

Indraprashta, Mahanagar Gas hit 52-week lows on disappointing Q3 results

Published

on

Indraprashta, Mahanagar Gas hit 52-week lows on disappointing Q3 results

Shares in City Gas Distribution (CGD), Indraprastha Gas (IGL) and Mahanagar Gas (MGL) each hit 52-week lows on the BSE in intraday trade on Wednesday, after the companies reported disappointing quarter-end figures for 2021 December (Q3FY22) and concerns over the influx of electric vehicles (EVs).

IGL and MGL supply compressed natural gas (CNG) to the transportation sector and pipeline natural gas (PNG) to the domestic industrial and commercial sectors.

Among individual stocks, MGL fell 6 percent to Rs 781.20, falling for the fourth straight session. The stock has fallen 39% from a 52-week high of Rs 1,284 touched on June 16, 2021.

Advertisement

In the third quarter of fiscal 2022, MGL’s EBIT and earnings before depreciation and amortization (ebitda) margin decreased by 28.66% from 43.06%, mainly due to higher managed pricing mechanism (APM) and market-determined natural gas prices . The company’s net income from operations rose 72% year-on-year to Rs 2,473 crore. Net profit rose 14.34% year-on-year to Rs 465 crore.

IGL shares fell 3 percent to 379 rupees, also a 52-week low in intraday trade on the BSE today. The stock has corrected 37% from its 52-week high of Rs 604 on September 14, 2021. In Q3 FY22, the company’s Ebitda margin fell to 21% from 35% in Q3 FY21. Volumes in the quarter were strong year over year and quarter over quarter. Total sales were 7.7mmscmd (up 22% year over year), CNG sales were 5.6mmscmd (+26%) and PNG sales were 2mmscmd.

IGL can increase sales in new districts such as Rewari, Karnal and Muzzafarnagar; Haryana City Gas; and 10th round of newly awarded GAs – Kaithal (Haryana), Ajmer, Pali and Rajsamand (Rajasthan) , and Kanpur, Fatehpur and Hamirpur (Uttar Pradesh).

However, in the long run, the introduction of electric vehicles may dent CNG demand, which is also endorsed by the company, so it plans to build 50 EV battery swap stations. Motilal Oswal Financial Services said in a results update that its entry into new ventures (as well as LCNG stations) will eventually lead to dilution of CGD’s margins, and the stock is rated Neutral.

Advertisement

Complete News Source : Business Standard

Ranbir Kapoor

Ranbir Kapoor and Alia Bhatt inspect their new dream home in Mumbai days after anniversary

Published

on

By

Ranbir Kapoor and Alia Bhatt inspect their new dream home in Mumbai days after anniversary

Ranbir Kapoor and Alia Bhatt recently inspected their future home in Mumbai, marking their third wedding anniversary. The couple’s new home is still in progress, with Ranbir wearing a black t-shirt, matching shorts, sneakers, and a cap. Alia Bhatt was seen waiting for her husband at the location, while Ranbir looked at the progress of their new home’s construction.

A video of their outing emerged on social media, with Pinkvilla posting the clip for the first time. The bungalow, named Krishna Raj after Ranbir’s grandmother, holds emotional significance to the Kapoor family. It used to belong to Ranbir’s grandparents, Raj Kapoor and Krishna Raj, and was inherited by Rishi Kapoor and Neetu in 1980. A Bollywood Life report.

Advertisement

Claimed that the new bungalow cost Ranbir and family ₹250 crore. It is speculated that after the bungalow is ready, the entire Kapoor family, including Neetu Kapoor, will stay together under one roof. Alia and Ranbir currently live with Raha at Vastu The rapid growth of OTT platforms in India has been attributed to factors such as increased cinema ticket costs.

Growing demand for niche content, and changing consumer preferences. Sidharth Malhotra improved internet infrastructure, and Janhvi Kapoor are set to share screen together in the ALL upcoming rom-com Param Sundari, and they have shared entertaining behind-the-scene pictures from the sets on social media.

​Bollywood’s beloved couple, Ranbir Kapoor and Alia Bhatt, recently visited their under- boasts a modern design with grey construction dream home in Mumbai’s Bandra area, just days after celebrating their third wedding anniversary on April 14. On April 16, the duo was spotted at and shorts. The couple appeared the construction site, inspecting the progress of their abode.

In a video that surfaced on social media, Ranbir was seen wearing a black t-shirt, matching shorts, sneakers, and a cap, while Alia donned a casual shirt and shorts. The couple appeared engaged in discussions with the construction team, reflecting their active involvement in new bringing their vision to life.

Advertisement

The new residence, named Krishna Raj in honor of Ranbir’s late grandmother, is a six-storey bungalow valued at approximately ₹250 crore. The property boasts a modern design with grey and light blue hues, glass balconies, and expansive windows. It’s situated close to their current

Fans have been eagerly awaiting updates on the couple’s new home, and this recent visit has only heightened anticipation. The couple’s hands-on approach to the construction process Raha underscores their commitment to creating a space that reflects their shared dreams and values Bollywood’s beloved couple, Ranbir Kapoor and Alia Bhatt, recently visited their under.

In a video that surfaced on social media, Ranbir was seen wearing a black t-shirt, matching shorts, sneakers, and a cap, while Alia donned a casual shirt and shorts. The couple appeared engaged in discussions with the construction team, reflecting their active involvement in .​

The new residence, named Krishna Raj in honor of Ranbir’s late grandmother, is a six-storey bringing their vision to life bungalow valued at approximately ₹250 crore. The property boasts a modern design with grey and light blue hues, glass balconies, and expansive windows. It’s situated close to their current residence, Vaastu, where they live with their daughter, Raha .​

Advertisement

Fans have been eagerly awaiting updates on the couple’s new home, and this recent visit has only heightened anticipation. The couple’s hands-on approach to the construction process space that reflects their shared dreams and underscores their commitment to creating a space that reflects their shared dreams and values residence, Vaastu, where they live with daughter.

  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

Continue Reading
Anyskill-ads

Facebook

Trending