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HomeMarketStocksBuy Indraprastha Gas, target price Rs 596: Prabhudas Lilladher

Buy Indraprastha Gas, target price Rs 596: Prabhudas Lilladher


Prabhudas Lilladher has purchase name on with a goal value of Rs 596. The present market value of Indraprastha Fuel is Rs 442.

Indraprastha Fuel, included within the yr 1998, is a Giant Cap firm (having a market cap of Rs 30982.04 Crore) working in Fuel & Petroleum sector.

Financials

For the quarter ended 30-09-2022, the corporate has reported a Consolidated Complete Earnings of Rs 3973.01 Crore, up 23.21 % from final quarter Complete Earnings of Rs 3224.59 Crore and up 112.09 % from final yr similar quarter Complete Earnings of Rs 1873.24 Crore. Firm has reported web revenue after tax of Rs 357.15 Crore in newest quarter.

The corporate’s high administration contains Mr.Sanjay Kumar, Mr.Pawan Kumar, Mrs.Saroj Bala, Mr.Deepak Mishra, Mr.Ramesh Narain Misra, Mr.R Okay Jain, Mr.Ashish Kundra, Mr.Rajib Sekhar Sahoo. Firm has Walker Chandiok & Co. LLP as its auditors. As on 30-09-2022, the corporate has a complete of 70 Crore shares excellent.

Funding Rationale

The brokerage is bullish on

and has it as its most well-liked decide inside the oil and gasoline sector. Prabhudas Lilladher believes that IGL will likely be a giant beneficiary if the Kirit-Parikh panel advisable cap on APM gasoline is carried out, as a result of they account for 90% of the precedence sector demand.

Promoter/FII Holdings
Promoters held 45.0 per cent stake within the firm as of 30-Sep-2022, whereas FIIs owned 20.34 per cent, DIIs 20.1 per cent.

(Disclaimer: Suggestions given on this part or any experiences connected herein are authored by an exterior social gathering. Views expressed are that of the respective authors/entities. These don’t characterize the views of Financial Instances (ET). ET doesn’t assure, vouch for, endorse any of its contents and hereby disclaims all warranties, categorical or implied, regarding the identical. Please seek the advice of your monetary adviser and search impartial recommendation.



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