Indus Gas (LON:INDI) Shares Up 38.4% – Time to Buy?

Indus Gas Limited (LON:INDI)’s stock price shot up 38.4% during trading on Monday . The stock traded as high as GBX 13 ($0.16) and last traded at GBX 11 ($0.14). 1,314,676 shares changed hands during mid-day trading, an increase of 432% from the average session volume of 247,015 shares. The stock had previously closed at GBX 7.95 ($0.10).

Indus Gas Stock Up 38.4 %

The stock has a market capitalization of £20.13 million, a P/E ratio of 137.50 and a beta of 0.70. 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 stock’s 50 day simple moving average is GBX 8.70 and its 200 day simple moving average is GBX 9.40.

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.