Jefferies has upgraded Indraprastha Gas Ltd (IGL) to ‘Buy’ from ‘Underperform’, revising its target price to ₹505 from ₹295, implying a 32.5% upside from the current market price (CMP) of ₹381.
The brokerage highlights that IGL has secured long-term LNG contracts at attractive prices, strengthening its market position. It has raised EPS estimates by 52% for FY26 and 55% for FY27, reflecting better earnings potential.
Despite muted volume growth in Q3, the long-term outlook remains positive, with Jefferies expecting limited near-term impact on ROCE.
Target Price: ₹505
Current Market Price (CMP): ₹381
Disclaimer: The above information is for informational purposes only and should not be considered as financial advice. Investors are advised to conduct their own research or consult with a financial advisor before making any investment decisions.
