ICICI Direct has given Hold recommendation for Indraprastha Gas with a target price of Rs. 415 in its research report issued on Aug 10, 2022

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 the NCT of Delhi. CNG sales contribute more than 70% of its total sales volume • Sales volume grew at 9% CAGR in FY17-22.


We change our rating from BUY to HOLD on the stock. We value IGL at Rs 415 (standalone at ~Rs 386 i.e. 19x P/E on FY24E EPS and investments at ~Rs 29).

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