Share price of Adani Gas falls as Sensex drops 192.46 points

Share price of Adani Gas falls as Sensex drops 192.46 points
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Synopsis

Promoters held 37.4 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 18.89 per cent and 0.02 per cent, respectively.

Agencies
Mazhar Mohammad of Chartviewindia.in said technical indicators are turning mixed as the weekly MACD chart has generated a 'buy' signal, giving an edge to the bulls.
The share price of Adani Total Gas Ltd. dropped 0.22 per cent to Rs 1781.0 at 10:15AM (IST) in Tuesday's trade. The stock has hit a high of Rs 1824.05 and low of Rs 1776.0 so far during the session. The stock had closed at Rs 1784.85 in the previous session.

The counter has had a total traded volume of 630 shares so far with a value of Rs 0.11 crore on the NSE. It traded at a price-to-earnings multiple of 335.37 and a price-to-book ratio of 54.67.

A higher P/E ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

The price-to-book value indicates the inherent value of a company and reflects the price investors are willing to pay even for no growth in the business.

The scrip gained 390.03 per cent during the past one year, while the 30-share index advanced 34.13 per cent during the same period.

Adani Total Gas Ltd. belongs to the Gas Distribution industry.

Promotor/FII Holding
Promoters held 37.4 per cent stake in the company as of 30-Sep-2021, while FIIs and domestic institutional investors ownership stood at 18.89 per cent and 0.02 per cent, respectively.

Key Financials
The firm reported consolidated sales of Rs 663.22 crore for the quarter ended 30-Sep-2021, up 31.97 per cent from the previous quarter's Rs 502.56 crore and up 55.72 per cent from the year-ago quarter's Rs 425.9 crore.

Profit for the latest quarter stood at Rs 158.12 crore, up 17.73 per cent from the same quarter a year ago.

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