Fri Sep 20 08:44:55 UTC 2024: ## Indus Gas Shares Plunge 11.6% on Wednesday
**London, September 20th, 2024** – Indus Gas Limited (LON:INDI), an oil and gas exploration and development company, saw its shares tumble 11.6% during Wednesday’s trading session. The stock closed at GBX 13 ($0.17), down from the previous day’s closing price of GBX 14.70 ($0.19).
The decline in share price came on a relatively low trading volume, with approximately 194,373 shares changing hands, a 34% decrease from the average daily volume.
Indus Gas, which operates in Asia and Europe, is focused on exploration, development, production, distribution, and marketing of hydrocarbons, including natural gas and condensate. The company holds a 90% stake in the Block RJ-ON/6, a petroleum exploration and development concession located in Rajasthan, India.
Despite the recent drop, Indus Gas continues to have a market cap of £23.97 million, a PE ratio of 118.46, and a beta of 0.70. The company also boasts a quick ratio of 0.80, a current ratio of 4.15, and a debt-to-equity ratio of 235.81.
The reasons behind the significant decline in Indus Gas’ share price remain unclear. Investors will be watching closely to see if the downward trend continues or if the company can rebound in the coming days.
First Piper 