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Buy Indraprastha Gas; target of Rs 440: ICICI Direct

ICICI Direct is bullish on Indraprastha Gas has recommended buy rating on the stock with a target price of Rs 440 in its research report dated May 20, 2022.

May 21, 2022 / 08:49 PM IST
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ICICI Direct's research report on Indraprastha Gas

Indraprastha Gas (IGL) is one of India’s largest city gas distribution companies and primarily operates in NCT of Delhi. CNG sales contribute more than 70% of its total sales volume • Sales volume grew at 9% CAGR in FY17-22.


We retain our BUY rating on the stock. We value IGL at Rs 440 (standalone at ~Rs 411 i.e. 18x P/E on FY24E EPS and investments at ~Rs 29).


For all recommendations report, click here

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first published: May 21, 2022 08:49 pm
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