The shares of city gas distribution Indraprastha Gas (IGL) dived 20% on the BSE in early trades om Monday, November 18 to reach 326.70, hitting its 52-week low. This apparently happened after the Centre further decreased the administered price mechanism allocation of domestic gas to them.
Shares of Honasa Consumer Ltd – a company that owns FMCG brands such as Mamaearth and The Derma Co – also tanked 20% following the firm coming up with financial results that showed consolidated loss of Rs 18.57 crore for Q2 (July- September 30).
“Revenue in Q2 stood at Rs 462 crore reflecting around 6.9 per cent growth, while revenue adjusted for inventory correction was Rs 525 crore with the growth rate of 5.7 per cent,” Honasa Consumer said in its earnings statement.
The Indraprastha Gas (IGL) share has dipped below its earlier low of Rs 382.80. Mahanagar Gas Ltd too has dropped 18% to touch Rs 1,075 on the BSE in intra-day trade, hitting a 52-week low of Rs 1,018 on November 23.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Comments are closed.