Adani Gas shares down 0.7% as Nifty gains

Adani Gas shares down 0.7% as Nifty gains
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Synopsis

A total of 5,754 shares changed hands on the counter till 12:23PM (IST).

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RSI has turned north from the 60 level, confirming bullishness.
NEW DELHI: Shares of Ltd. traded 0.7 per cent down in Monday's trade at 12:23PM (IST). Around 5,754 shares changed hands on the counter.

The stock opened at Rs 3635.0 and touched an intraday high and low of Rs 3680.25 and Rs 3600.0, respectively, in the session so far. Shares of the company of Adani Total Gas Ltd. quoted a 52-week high of Rs 3816.3 and a 52-week low of Rs 1325.0.

As per BSE, the total market cap of the Adani Total Gas Ltd. stood at Rs 396569.52 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 1051.46 crore for the quarter ended 30-Jun-2022, up 2.86 per cent from previous quarter's Rs 1022.2 crore and up 109.22 per cent from the year-ago quarter's Rs 502.56 crore.

The net profit for latest quarter stood at Rs 138.37 crore, down 2.95 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Jun-2022, DIIs held 0.03 per cent stake in the company, while foreign institutional investors held 17.55 per cent and the promoters 37.4 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 784.99 and a price-to-book ratio of 97.81. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

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