Indraprastha Gas (IGL) shares were up 0.8 percent at Rs 490.70 after the company announced a joint venture agreement with M/s Genesis Gas Solutions Private Limited to establish an integrated smart metre manufacturing plant. The joint venture between IGL and Genesis will have equal equity participation from both partners in the ratio of 51:49.

The capital cost of the aforementioned smart metre manufacturing plant is Rs 110 crore. The smart metre manufacturing plant will initially have an installed capacity of 1 million metres per year and is expected to be operational by April 2024.

On July 23, 2023, the board of directors will meet to review and approve the unaudited financial results for the quarter ended June 30, 2023. The company's net profit fell 7.7 percent in the quarter ended March 2023, to Rs 397.51 crore from Rs 430.93 crore in March 2022.

However, the company's total income increased by 51% to Rs 4,127.07 crore in March 2023 from Rs 2,724.16 crore in March 2022.

On May 9, 2023 and July 29, 2022, the share reached a 52-week high of Rs 515.55 and a 52-week low of Rs 343.80, respectively.