Indus Gas (LON:INDI) Shares Up 23.9% – Here’s Why

Shares of Indus Gas Limited (LON:INDI) were up 23.9% during mid-day trading on Monday . The company traded as high as GBX 13 ($0.16) and last traded at GBX 9.85 ($0.12). Approximately 689,168 shares changed hands during mid-day trading, an increase of 182% from the average daily volume of 244,441 shares. The stock had previously closed at GBX 7.95 ($0.10).

Indus Gas Trading Up 23.9 %

The company has a current ratio of 2.50, a quick ratio of 0.80 and a debt-to-equity ratio of 236.14. The firm’s 50-day simple moving average is GBX 8.70 and its 200 day simple moving average is GBX 9.40. The stock has a market cap of £18.02 million, a P/E ratio of 123.13 and a beta of 0.70.

About Indus Gas

Indus Gas Limited, together with its subsidiaries, operates as an oil and gas exploration and development company in Asia and Europe. The company engages in the exploration, development, production, distribution, and marketing of hydrocarbons, including natural gas and condensate. It owns a 90% participating interest in the Block RJ-ON/6, a petroleum exploration and development concession covering an area of approximately 4,026 square kilometers located in onshore mid Indus basin, Rajasthan.