Indus Gas (LON:INDI) Shares Down 22.2% – Here’s What Happened

Indus Gas Limited (LON:INDI) shares dropped 22.2% on Tuesday . The stock traded as low as GBX 7 ($0.09) and last traded at GBX 7 ($0.09). Approximately 161,871 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 117,748 shares. The stock had previously closed at GBX 9 ($0.11).

Indus Gas Stock Down 2.0 %

The company’s 50 day moving average price is GBX 8.35 and its two-hundred day moving average price is GBX 9.17. 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 has a market cap of £14.34 million, a PE ratio of 98.00 and a beta of 0.70.

Indus Gas Company Profile

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.