Indus Gas (LON:INDI) Trading 63.8% Higher – Time to Buy?

Indus Gas Limited (LON:INDI) shares shot up 63.8% during mid-day trading on Saturday . The company traded as high as GBX 14.30 and last traded at GBX 14.30. 1,663,974 shares were traded during trading, an increase of 910% from the average session volume of 164,830 shares. The stock had previously closed at GBX 8.73.

Indus Gas Stock Performance

The stock has a 50 day moving average of GBX 10.28 and a 200 day moving average of GBX 9.76. The company has a market capitalization of £26.17 million, a price-to-earnings ratio of -0.07 and a beta of 0.70. The company has a quick ratio of 0.80, a current ratio of 3.20 and a debt-to-equity ratio of 237.78.

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.