Share price of Adani Gas jumps as Sensex gains 475.04 points

Share price of Adani Gas jumps as Sensex gains 475.04 points
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Synopsis

Promoters held 37.4 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 17.83 per cent and 0.03 per cent, respectively.

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Nifty moved in a tight range of 82 points, and ended slightly below the psychologically crucial level of 15,700.
The share price of Ltd. gained 4.74 per cent to Rs 2403.05 at 10:40AM (IST) in Friday's trade. The scrip has hit a high of Rs 2410.55 and low of Rs 2310.0 so far during the session. The stock had closed at Rs 2294.3 in the previous session.

The counter has had a total traded volume of 7414 shares so far with a value of Rs 1.76 crore on the NSE. It traded at a price-to-earnings multiple of 518.17 and a price-to-book ratio of 97.81.

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 83.06 per cent during the past one year, while the 30-share index advanced 8.64 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 31-Mar-2022, while overseas investors and domestic institutional investors ownership stood at 17.83 per cent and 0.03 per cent, respectively.

Key Financials
The firm reported consolidated net sales of Rs 1022.2 crore for the quarter ended 31-Mar-2022, up 14.68 per cent from the previous quarter's Rs 891.33 crore and up 69.33 per cent from the year-ago quarter's Rs 603.66 crore.

Profit for the latest quarter stood at Rs 81.09 crore, down 43.58 per cent from the same quarter a year ago.

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