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Last Updated : Mar 24, 2020 01:17 PM IST | Source: Moneycontrol.com

Indraprastha Gas jumps 7% as Morgan Stanley keeps overweight rating

The share touched its 52-week high Rs 534.40 and 52-week low Rs 284.55 on February 07 and March 19, respectively

 
 
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Indraprastha Gas share price added 7 percent intraday on March 24 as Morgan Stanley maintained overweight rating on the stock with a target of Rs 471 per share.

According to the research house, the stock is pricing in that the gas demand may drop to a third of normal for 6 months.

However, the strong FCF and net cash must help the company to weather demand challenges, it added.

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At 13:02 hrs Indraprastha Gas was quoting at Rs 323.70, up Rs 18.85, or 6.18 percent on the BSE.

The share touched its 52-week high Rs 534.40 and 52-week low Rs 284.55 on February 07 and March 19, respectively.

Currently, it is trading 39.43 percent below its 52-week high and 13.76 percent above its 52-week low

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First Published on Mar 24, 2020 01:16 pm
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