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Hold Indraprastha Gas; target of Rs 560: ICICI Direct

ICICI Direct recommended hold rating on Indraprastha Gas with a target price of Rs 560 in its research report dated November 12, 2021.

November 17, 2021 / 03:19 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 6% CAGR in FY16-21.


We retain our HOLD rating on the stock. We value IGL at Rs 560 (standalone at ~Rs 513 i.e. 24x P/E on FY23E EPS and investments at ~Rs 46).


For all recommendations report, click here

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Broker Research
first published: Nov 17, 2021 03:19 pm

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