Indraprastha Gas Ltd, the sole retailer of CNG in national capital region, today reported a 44 percent jump in its June quarter net profit on rise in gas sales and lower interest cost.
Net profit in April-June at Rs 147.72 crore, or Rs 10.57 a share, was higher than Rs 102.32 crore, or Rs 7.32 per share, in the same period a year ago, the company said in a statement here.
A lot of you are getting anxious on why this stock is not moving, well here is my take. We all know how markets behave, there are people selling and people buying which keeps the stock prices changing. If this is not happening, it means it`s not natural and can only be due to design. This scrip is superb. The company has monopoly, and therefore many funds and brokerages want to buy. Still a lot of retail investors holding this stock. The best way to shake out the retail investor is to keep the price unmoving. Creates frustration and people dump stocks and someone buys it at 500. Once the target retail stock is out, the price will move up again and the same brokers will be selling you this at 600, and you will be dying to buy it thinking you missed an opportunity. So have patience and hold on. If you sell, only one who holds on will benefit.
Vivek Ramani, You copied my message from money control and posted it here. Thanks for making my words reach so many people on this forum. Next time please don''t hesitate to mention original author''s name. Raynmaker