Citi has maintained its buy call on Indraprastha Gas Limited (IGL), setting a target price of ₹525 per share, which implies a potential upside of 27% from the current market price of ₹413. The brokerage is encouraged by IGL’s robust 9% year-over-year volume growth in Q2, marking a significant rebound from the 4% growth levels observed in recent quarters.
Citi sees a strong foundation for IGL’s volumes to grow at a 7-8% compound annual growth rate (CAGR) over the next three years, with upside risks to this volume outlook. Additionally, IGL has been placed on a 90-day positive catalyst watch, indicating Citi’s expectation of favorable developments in the near term.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult with a financial advisor before making any investment decisions.
