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Buy Gujarat Gas; target of Rs 625: ICICI Direct

ICICI Direct is bullish on Gujarat Gas has recommended buy rating on the stock with a target price of Rs 625 in its research report dated May 12, 2022.

May 14, 2022 / 01:53 PM IST
 
 
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ICICI Direct's research report on Gujarat Gas


Gujarat Gas is one of India’s largest city gas distribution companies with highest sales volume among listed peers. Sales volume grew at 15% CAGR in FY17-22 driven by industrial PNG • The company benefitted from NGT order for Morbi industrial area.



Outlook


We upgrade our rating on the stock from HOLD to BUY. We value GGL at Rs 625 i.e. 26x P/E on FY24E EPS.

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For all recommendations report, click here


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first published: May 14, 2022 01:53 pm
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