According to Karvy, investors can purchase the stock on declines with a strict stop loss of Rs 108.

Shares of the company, on Tuesday (June 10), closed at Rs 111.35 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 17532. Current EPS and P/E ratio stood at 11.88 and 9.50 respectively. The share price also touched a high of Rs 114 during the day. The share price has seen a 52-week high of Rs 182.5 and a low of Rs 107.9 on BSE.

The company’s board of directors, at its meeting held on Jun. 18, 2008, will consider recommendation of dividend for the financial year 2007-08.

The board at the same meeting shall also consider and take on record the audited financial results for the year and the quarter ended Mar. 31, 2008.  

Indraprastha Gas registered a 26.87% growth in net profit to Rs 450.20 million for the quarter ended December 2007 from Rs 354.84 million for the quarter ended December 2006.

Net sales for the quarter rose 14.30% to Rs 1,827.32 million from Rs 1,598.73 million for the quarter ended December 2006.

Other stocks from the same sector that looks good for short-term trading includes Reliance Petro, IOC, Essar Oil, BPCL and MRPL.