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Indraprastha Gas (IGL) reported a strong QoQ performance with EBITDA/ PAT surging 38%/ 31%. Although, volumes remained flattish sequentially at 746mmscm, lower gas prices led to gross margin expansion thus elevating operational performance. Average realisations declined 8.0% QoQ while were up 2.6% YoY at Rs45.7/ scm. EBITDA/ scm expanded QoQ from Rs6.3/ scm to Rs8.6/ scm, remaining flattish YoY. Flattish YoY EBITDA/ scm led to 4.0% increase in operating profit at Rs6.4bn (6.2bn). The company ...
Add Indraprastha Gas Ltd For Target Rs. 523 - Centrum Broking Ltd
Bank of Baroda Ltd Buy Bank of Baroda Ltd @197.5-198.5; Target 201.9; Stop Loss196.40 Indraprastha Gas Ltd Buy Indraprastha Gas Ltd @496-497; Target 503.80; Stop Loss 493.10 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.tradebulls.in/disclaimer SEBI Registration number is INZ000171838 Views express by all participants are fo...
Stock Picks : Bank of Baroda Ltd and Indraprastha Gas Ltd By ICICI Direct
Indraprastha Gas Ltd * IGL has been trading in a steady uptrend for the last one year, inching gradually towards its record high. * Formed the base while holding above the support zone of short term moving average i.e. 20 EMA. * The chart pattern combined with strong volumes suggests up trend to resume soon. * We thus recommend creating fresh longs in the mentioned zone Buy Indraprastha Gas Ltd CMP 493.15; Range 492-494; SL 482; Target 520 To Read Complete...
Stock of the day : Buy Indraprastha Gas Ltd For Target Rs. 520 - Religare Broking
Indraprastha Gas Ltd * IGL has been trading in a steady uptrend for the last eight months after the breakout from a consolidation range. * Witnessed marginal dip after retesting the hurdle around 515 levels and retraced to support zone of the medium term moving average i.e. 100 EMA. * Set for a resumption of the up move, after spending nearly 2 weeks in a range. * We thus recommend creating fresh longs in the mentioned zone. Buy Indraprastha Gas Ltd CMP 483.20; Range 4...
Stock of the day: Buy Indraprastha Gas Ltd For Target Rs. 506 - Religare Broking
IGL’s Q4FY23 SA EBITDA/APAT is Rs4.66/3.30bn, down 7/2% YoY and up 9/19% QoQ. Earnings missed our estimates by 2-3%, on slightly lower EBITDA/scm at Rs6.3 (up 9% QoQ). Total gas sales volume was in-line, at 8.25mmscmd, up 7% YoY/2% QoQ (CNG/PNG up 8%/2% YoY). Mgmt restated its volume guidance of 9/10mmsmcd for FY24/25E, with target EBITDA/scm of Rs7.5-8 supported by stable gas & alternate fuel prices. Demand is expected to be led by new GAs, which will attribute 50% of the Rs15-16bn...
Hold Indraprastha Gas Ltd For Target Rs. 500 - Emkay Global Financial Services Ltd
*Indraprastha Gas (IGL) reported in-line EBITDA of INR4.7b in 4QFY23, with EBITDA/scm at INR6.3 (down 13% YoY/up 9% QoQ). Volumes increased 7% YoY to 8.3mmscmd. The management expects volumes to reach 9mmscmd in FY24, driven primarily by growth from new GAs. CNG conversions are also expected to increase, driven by the stability in CNG prices and the introduction of new CNG vehicle models by OEMs. The management highlighted that buses account for ~20% of CNG volumes (DTC/DIMTS buses accounting...
Sell Indraprastha Gas Ltd For Target Rs. 345 - Motilal Oswal Financial Services Ltd
In a notification posted by IGL on 25th Apr’23 (link), the regulator PNGRB has clarified long-pending issues pertaining to formal CGD authorisation for the areas of Greater Noida, Faridabad and Gurugram. We note IGL already supplies gas (0.5mmscmd) to Gurugram and Faridabad for a nominal service fee of Rs2/scm, which implies an EBITDA of only Rs350mn – while for balance volumes, IGL’s EBITDA margin is at a healthy ~Rs7.7/scm (FY22 reported earnings). We note greater Noida re...
Indraprastha Gas Sector Update : PNGRB clarifies authorisation for Noida, Faridabad and Gurugram by ICICI Securities
The price of CNG has shot up by nearly 38 per cent while the price of an LPG cylinder increased by about 22 per cent in Delhi during the period of last one year. The comparative prices of CNG for Indraprastha Gas Limited (Delhi) were at Rs 57.01 per kg on March 1, 2022 and it increased to Rs 79.56 per kg on March 1 this year. Similarly, the price of a LPG cylinder (14.4 kg) was at Rs 899.50 on March 1, 2022 and it went up to Rs 1,103 by March 1. India imports more than 60 per cent of...
Delhi: CNG prices rise 38%, LPG cylinder gets 22% costlier in last 1 Year
Margin falls, as expected; however, volume also weak IGL’s 3QFY23 standalone EBITDA at INR 4.3bn was largely in line with JMFe/consensus of INR 4.4bn/INR 4.3bn. EBITDA was down 19% QoQ due to the expected decline in margin on account of hike in domestic gas price (to USD 8.57/mmbtu for 2HFY23 vs. USD 6.1/mmbtu in 1HFY23). However, sales volume was 2.4% below JMFe at 8.1mmscmd (up 0.4% QoQ and up 6.1% YoY) as CNG sales volume was 3.2% below JMFe at 6.1mmscmd (down 0.3% QoQ and up 7.8%...
Buy Indraprastha Gas Ltd For Target Rs. 500 - JM Financial Services
Indraprastha Gas is currently trading at Rs. 449.50, up by 2.35 points or 0.53% from its previous closing of Rs. 447.15 on the BSE. The scrip opened at Rs. 448.00 and has touched a high and low of Rs. 452.45 and Rs. 447.00 respectively. So far 24770 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 455.00 on 08-Mar-2023 and a 52 week low of Rs. 335.10 on 17-Jun-2022. Last one week high and low of the scrip stood a...
Indraprastha Gas trades in green on the bourses
Exceeding expectations on EBITDA/scm IGL’s revenue grew 67% YoY & 4% QoQ to Rs37.1bn (1% below our estimate). Revenue growth is backed by higher price realization (58% YoY) & volume growth of 6% YoY to 8.1mmscmd (2% below our estimate). EBITDA declined by 9% YoY & 19% QoQ to 4.3bn (14% above our estimate). Fall in EBITDA on account of (1) increase in APM gas price and (2) insufficient CNG/PNG (D) price hikes. IGL posted EBITDA/scm of Rs5.7 (above our Rs5) vs. Rs6.7 in 3QF...
Buy Indraprastha Gas Ltd For Target Rs.510 - Centrum Broking
Strong growth visible; maintaining a Buy on attractive valuations Indraprastha Gas was hit by lower CNG volume growth in Q3 due to higher gas prices. The gross margin was hit by higher APM gas prices, which the company was unable to pass on to maintain volumes. The company was expecting the Kirit Parikh Committee to reduce APM gas prices; this did not come through. It hiked prices in Oct’22 (from Rs75.61 kg to Rs78.61) and in Dec’22 (to Rs79.56), which, with falling crude and s...
Buy Indraprastha Gas Ltd For Target Rs. 570 - Anand Rathi Shares and Stock Brokers
State Bank of India Ltd * In line with the recent underperformance of the banking index, SBIN is also witnessing pressure and gradually drifting lower. * It has recently slipped below the support zone of long term moving average i.e. 200 EMA on the daily chart. * The prevailing chart formation indicates a negative tone to continue. * We thus suggest traders to create fresh short positions through the Put option. Buy Indraprastha Gas Ltd CMP 434.30; Range 430-432; SL 422; T...
Stock of the day : Buy Indraprastha Gas Ltd For Target Rs.448 - Religare Broking
Indraprastha Gas Ltd * IGL has been gradually inching higher after breakout from consolidation range in Aug 2022. * It has formed a strong base around its support zone of multiple moving averages on daily charts. * The recent price action combined with uptick in volumes indicates breakout in the near future. * We thus suggest initiating fresh longs as per the given levels. Technical Chart : Daily BUY Indraprastha Gas Ltd CMP: 436.05 Range: 428-432 SL: 420...
Stock of the day : Buy Indraprastha Gas Ltd For Target Rs. 448 - Religare Broking
Long term outlook positive; costs to moderate Indraprastha Gas Ltd. (IGL), jointly promoted by Bharat Petroleum Corporation and Gas Authority of India, processes and distributes compressed natural gas (CNG) and liquefied petroleum gas (LPG). • In Q3FY23, its standalone revenue grew to Rs. 3,711cr (+67.5% YoY; +4.4% QoQ), supported by sustained volume increase of 6.1% YoY to 747mn standard cubic metres (SCM). • EBITDA declined 8.8% YoY to Rs. 428cr. Also, EBITDA margin deter...
Buy Indraprastha Gas Ltd For Target Rs. 504 - Geojit Financial Services
Indraprastha Gas Limited (IGL) is a company limited by shares domiciled in India and was incorporated on December 23, 1998 under the erstwhile Companies Act, 1956. IGL is in the business of city gas distribution presently operating in the National Capital Territory of Delhi including adjoining areas of Noida, Greater Noida, Ghaziabad, Gurugram, Meerut (except area already authorised), Shamli, Muzaffarnagar, Karnal and Rewari. Investment Rationale * Higher CNG utilization to scale up Rev...
Buy Indraprastha Gas Limited For Target Rs. 512 - GEPL Capital
Indraprastha Gas Ltd * IGL has been a consistent performer within the gas distribution space, maintaining a steady uptrend since 2009. It also experienced corrective moves during those phases but the quantum of decline usually remains low but the scenario changed in the last decline. * It corrected sharply from its record high i.e. 588.6 and slipped to 321 levels in just six months (Sep 2021- March 2022) and the decline in the broader markets further added to the pressure. It formed a t...
Buy Indraprastha Gas Ltd For Target Rs. 495 - Religare Broking
Volatile quarter; outlook hinges on Kirit Parikh panel’s revised pricing IGL’s Q2FY23 operating numbers were weaker than estimated (albeit on expected lines due to volatility in the gas mix as well as higher gas costs during the quarter). Volume at 8.09mmscmd was in-line, but gross margin saw a 5% miss as unit gas cost was 4% above our estimate. EBITDA/scm, hence, came in at a 7% miss at Rs7.1, and overall EBITDA was 6% lower than our estimate. However, PAT was in-line, led by ...
Buy Indraprastha Gas Ltd For Target Rs.450 - Emkay Global Financial Services Ltd
Weak quarter led by margin decline; volumes remain stable * IGL misses our EBITDA estimate, driven by higher-than-expected gas costs with EBITDA/scm at INR7.1 (down 11% YoY and down 18% QoQ). Total volumes stood at 8.1mmscmd (+12% YoY, +3% QoQ) with an all-time high CNG volumes of 6.1mmscmd (+15% YoY) and modest PNG volumes of 2mmscmd (+3% QoQ). * However, the challenges remain overwhelming for IGL: * With the rise in domestic gas prices to USD8.6/mmBtu for 2HFY23, CGDs will have to ...
Neutral Indraprastha Gas Ltd For Target Rs.406 - Motilal Oswal Financial Services Ltd
* IGL has been a consistent performer within the gas distribution space, maintaining a steady uptrend since 2009. It also experienced corrective moves during those phases but the quantum of decline usually remains low but the scenario changed in the last decline. * It corrected sharply from its record high i.e. 588.6 and slipped to 321 levels in just six months (Sep 2021- March 2022) and the decline in the broader markets further added to the pressure. It formed a triangle pattern during t...
Buy Indraprastha Gas Ltd For Target Rs.485 - Religare Broking
Gross margins drive profitability… About the stock: 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 Q1FY23 Results: IGL reported Q1FY23 results that were better than estimated on the profitability front driven by gross margins. * Revenue increased 154% YoY to | 3193....
Hold Indraprastha Gas Ltd For Target Rs.415- ICICI Direct
Admirable resilience Indraprastha Gas (IGL) has delivered a resilient 1.8% YoY/6.6% QoQ improvement in EBITDA to Rs5bn and a 9/17% YoY/QoQ growth in net earnings in Q4 to Rs3.6bn despite a challenging quarter from a gas-cost perspective. Blended gas costs of Rs29.2/scm are probably the highest ever for the company, rising 87% YoY and 11% QoQ, driven by the record high spot LNG prices and the blending of ~18% of spot LNG in priority sector volumes. IGL has been aggressive in protecting its ...
Buy Indraprastha Gas Ltd For Target Rs.540 - ICICI Securities
Wading through the perfect storm; maintain Buy * IGL has faced multiple headwinds, including rising APM gas prices and shortfall, which led to margin concerns. Aggressive RSP hikes, in response, have led to worries about CNG economics and demand outlook amid EV-led developments in Delhi. * Q4FY22 results were largely stable with 14% yoy volume growth, despite a ~Rs15/kg CNG RSP hike since Oct’21 and omicron. EBITDA/scm also held up at Rs7.2. Management’s guidance of a 3-year...
Buy Indraprastha Gas Ltd For Target Rs.450- Emkay Global
Earnings beat estimates on stronger margins Our view The 4QFY22 reported Ebitda at Rs 5.0bn (+2% YoY; +7% QoQ), stood better than our estimates, however in-line with consensus estimates. The beat on our estimates was driven primarily by better than estimated Ebitda per unit, even as gas sales volume stood in-line. The Ebitda per unit at Rs 7.2/scm improved QoQ, as IGL under-took price revisions to offset higher gas cost. Total gas sales during the quarter stood at 7.74mmscmd (+14% YoY; ...
Buy Indraprastha Gas Ltd For Target Rs.520 - Yes Securities
Leading player in city gas distribution Indraprastha Gas Ltd. (IGL) is one of the pioneer and among the leading city gas distribution (CGD) company in India. Through its extensive distribution network of 652 compressed natural gas (CNG) stations and 17,876kms of piped natural gas (PNG) network, it provides safe and uninterrupted gas supply to domestic, commercial and industrial consumers. The company also has two associates, which also operates as CGD companies i.e. Central UP Gas Ltd. (ca...
Buy Indraprastha Gas Ltd For Target Rs.435 - Choice Broking
United Phosphorus Ltd Buy United Phosphorus Ltd @ 702.00-704.00.00 CMP 704.10 TGT 689.00 SL 710.10 Indraprastha Gas Buy Indraprastha Gas Ltd @ 369.00-370.00 CMP 370.05 TGT 363.00 SL 373.10 To Read Complete Report & Disclaimer Click Here https://secure.icicidirect.com/Content/StaticData/Disclaimer.html Views express by all parti...
Stock Picks - United Phosphorus Ltd and Indraprastha Gas Ltd By ICICI Direct
Strong volume growth; Outlook positive Indraprastha Gas Limited (IGL) processes and distributes compressed natural gas and liquefied petroleum gas. The Company has been jointly promoted by Bharat Petroleum Corporation and Gas Authority of India. * Standalone revenue rose 21.0% QoQ (+52.9% YoY) in Q3FY22, aided by robust volume growth of 5.8% QoQ to 704 SCMmn (+22.2% YoY). CNG volumes up 25.6% YoY and PNG volumes up 13.5% YoY. * EBITDA fell 11.4% QoQ to Rs.470cr (-6.2% YoY) with EBITD...
Mid Cap : Buy Indraprastha Gas Ltd For Target Rs.474 - Geojit Financial
Concerns outweigh; de-rating continues * IGL reported a miss on our EBITDA estimate, although volumes were strong both YoY and QoQ. Total volumes stood at 7.7mmscmd (+22% YoY), with CNG volumes at 5.6mmscmd (+26%) and PNG volumes at 2mmscmd. * However, the challenges remain overwhelming for IGL: 1. A recent article suggests that the draft policy warrants cab aggregators and delivery services ensure that 5%/10% of all new 4W/2W purchases to be EVs by Mar’22. It aggressively sugg...
Neutral Indraprastha Gas Ltd For Target Rs.450 - Motilal Oswal
The company reported standalone net profit of Rs 308.52 crore for the quarter ended December 31, 2021 as compared to Rs 334.87 crore in the same period last year, registering a year-on-year decline of 7.87 per cent. Net revenue of the company rose substantially by 53.20 per cent at Rs 2,215.46 crore in October-December quarter of this fiscal as against Rs 1,446.16 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 84.65 pe...
Indraprastha Gas Ltd Q3 net profit down 7.87% at Rs 308.52 cr
Threat from EVs Newspaper article suggests aggressive influx of EVs into Delhi * The article suggests aggressive timelines for aggregators for transitioning to electric vehicles (EVs). * In our earlier note, we had highlighted how the onslaught of EVs in China resulted in a decline of 3-11% CAGR in CNG and LNG sales over the past five years for two prominent Chinese CGD companies. * Aggregators account for 30-40% of total CNG sales for IGL. In the near term, while the EPS may not ...
Neutral Indraprastha Gas Ltd For Target Rs.489 - Motilal Oswal
A play on development of CGD Incorporated in 1998, Indraprastha Gas Limited (IGL) engages in distribution of natural gas in India. The company supplies compressed natural gas (CNG) to the transport sector and piped natural gas to domestic, industrial, and commercial sectors in Delhi and the National Capital Region. It operates ~560 CNG stations and serves over 1.47Mn households and ~6,200 commercial and industrial consumers as on Dec 2020. The company also operates 1,220kms of steel pipeli...
Buy Indraprastha Gas Ltd For Target Rs.620 - Yes Securities
Canara Bank Buy Canara Bank Ltd @ 206.50-207.50 CMP 211.35 TGT 211.00 SL 204.90 Indraprastha Gas Sell Indraprastha Gas Ltd @ 462.00-464.00 CMP 463.70 TGT 455.00 SL 467.10 To Read Complete Report & Disclaimer Click Here https://secure.icicidirect.com/Content/StaticData/Disclaimer.html Views express by all participants are for information & ac...
Stock Picks - Canara Bank Ltd and Indraprastha Gas Ltd By ICICI Direct
Mindtree Buy Mindtree Ltd @ 4755.00-4762.00 CMP 4758.40 TGT 4829.00 SL 4720.70 Indraprastha Gas Sell Indraprastha Gas Ltd @ 471.00-472.00 CMP 469.00 TGT 462.50 SL 476.10 To Read Complete Report & Disclaimer Click Here https://secure.icicidirect.com/Content/StaticData/Disclaimer.html Views express by all participants are for information & aca...
Stock Picks - Mindtree Ltd and Indraprastha Gas Ltd By ICICI Direct
Rewarding 2QFY22, although risk-reward unfavorable * Indraprastha Gas (IGL) reported EBITDA ahead of our estimates. This was led by better-than-estimated volumes (CNG volumes now 8% above pre-COVID peak) and higher-than-estimated EBITDA/scm (INR8, primarily supported by a CNG price hike of INR1.8/kg during the quarter). * With an overwhelming quarterly performance, the challenges ahead for IGL are overwhelming as well: The recent excise duty cut on petrol and diesel has reduced savin...
Neutral Indraprastha Gas Ltd For Target Rs.520 - Motilal Oswal
Derivative Ideas IGL gained 2.41% and closed at 493.5 on 21st Dec. The Scrip took Support from its important zone of 475-478 zone. The Derivatives Data suggests a good Long Buildup in IGL Futures . We recommend to go Long in IGL with a SL of 478. Strategy:- BUY IGL@485-488, SLOSS AT 478, TRGT 502. To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration numb...
Buy Indraprastha Gas Ltd For Target Rs.502 - Religare Broking
Volume growth drives performance About the stock: Indraprastha Gas (IGL) is one of India’s largest city gas distribution companies and primarily operates in NCT of Delhi. * CNG sales contribute more than 70% of its total sales volume * Sales volume grew at 6% CAGR in FY16-21 Q2FY22 Results: IGL reported Q2FY22 results that were better than estimates. * Revenue increased 40.3% YoY to | 1831.2 crore as sales volume grew 31.6% YoY and 36.1% QoQ post relaxations in ...
Hold Indraprastha Gas Ltd For Target Rs.560 - ICICI Direct
Reliance Industrial Infrastructure Limited * On the weekly chart, the stock has decisively broken out its five months “triangular” formation on a closing basis * This breakout is accompanied with huge volumes indicating increased participation on rally * The stock was observed from its 20, 50 and 100 Day SMA support zone which reconfirm bullish sentiments * The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in...
Weekly Tech Picks - Reliance Industrial Infrastructure Ltd, Indraprastha Gas Ltd, Polyplex Corporation Ltd, Poonawalla Fincorp Ltd By Axis Securities
Below is quote on Delhi Government cut vat on petrol to 19.4%, negative for Indraprastha Gas Ltd By Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd Delhi government cut vat on petrol from 30% to 19.4%, the decision has been taken in the cabinet meeting and will be implemented from today. Vat cut on petrol makes petrol cheaper by ₹8, before Diwali central government has already reduced vat on petrol by ₹5 so overall petrol prices have come down by ₹13. Along with that due to the...
Quote on Delhi Government cut vat on petrol to 19.4%, negative for Indraprastha Gas Ltd By Mr. Yash Gupta, Angel One Ltd
Strong recovery in gas sales; margins firm Our view IGL’s 2QFY22 operating profit at Rs 5.3bn (+30% YoY; +39% QoQ), stood ahead of our and street estimates, driven by strong sequential recovery in gas sales and firm margins, despite sharp increase in LNG prices. The total gas sales stood at a quarterly high of 7.24mmscmd, ahead of pre-Covid levels for this time of the year. Revival of mobility post Covid 2 nd wave, along with an accelerated shift to CNG vehicles, in light of wide ...
Buy Indraprastha Gas Ltd For Target Rs.620 - Yes Securities
Surge in gas cost & third wave risks to outlook Indraprastha Gas’ (IGL) Q1FY22 standalone EPS was up 7.7x YoY on a low base driven by surge in margins and volumes, but down 26% QoQ due to lower volumes on lockdowns. Consolidated Q1 EPS was up 7.9x YoY with share of profit of associates up 5.7x YoY. We keep our estimates unchanged, but downside to both volumes and margins is not ruled out. To achieve our FY22E estimate, volumes in rest of the year need to be at 6.7mmscmd; this ...
Reduce Indraprastha Gas Ltd For Target Rs.472 - ICICI Securities
The privatisation plan of public sector oil refiner Bharat Petroleum Corporation Ltd may get expensive for the investors as the new owners are unlikely to get regulatory exemption to participate in open offer of two other entities - Petronet LNG Ltd (PLL) and Indraprastha Gas Ltd (IGL). Sources privy to the development said that market regulator Securities and Exchange Board of India (SEBI) is not in favour of giving exemption to the BPCL from making open offer in the PLL and the IGL where...
BPCL could cost acquirer Rs 20K cr more as SEBI open offer exemption for IGL, PLL unlikely
Buy Indraprastha Gas Ltd For Target Rs.635 Stock overreacts to upcoming gas price hike; CNG economics to be in range * IGL’s stock price corrected 13% in the last 15 days as economics vs. margin concerns resurfaced post the recent spike in global gas prices, and its impact on APM rates going ahead. PNGRB also sought comments on open access, though it was mostly a follow-up. * Despite our bullish stance on gas prices, we find comfort in IGL’s retail model and past trends. ...
Buy Indraprastha Gas Ltd : Stock overreacts to upcoming gas price hike; CNG economics to be in range - Emkay Global
In-line results; real challenge from APM and EVs ahead * Indraprastha Gas (IGL) reported EBITDA in line with estimate, with volumes marginally below estimate (-5% est., at 5.32mmscmd). On the other hand, EBITDA/scm was marginally better than estimated (+5% est., at INR7.9). * IGL reported flat EBITDA margins QoQ, while peers MAHGL and GUJGA reported margin expansion QoQ on account of a higher mix of spot LNG. On the other hand, a much lower spot LNG mix resulted in flat QoQ EBITDA margi...
Neutral Indraprastha Gas Ltd For Target Rs.510 - Motilal Oswal
Religare Super Idea To Read Complete Report & Disclaimer Click Here Please refer disclaimer http://ex.religareonline.com/disclaimer SEBI Registration number is INZ000174330 Above views are of the author and not of the website kindly read disclaimer
Buy Indraprastha Gas Ltd Target Rs.565 - Religare Broking
Buy Indraprastha Gas Ltd For Target Rs.635 Higher opex leads to margin miss; volumes cross 7mmscmd in July * IGL reported Q1FY22 standalone EBITDA/PAT of Rs3.81/2.44bn, down 23%/26% qoq (up 4.6x/7.7x yoy) and 7%/9% below our estimates primarily due to 6% EBITDA/scm miss. Margin miss was on the back of higher unit opex. ETR was also slightly higher at 26%. * Gas sales volumes rose 96% yoy/fell 22% qoq to 5.32mmscmd. CNG/PNG volumes rose 126%/51% yoy but fell 25%/15% qoq. I/C PNG volum...
Buy Indraprastha Gas Ltd : Higher opex leads to margin miss; volumes cross 7mmscmd in July By Emkay Global
Strong potential for growth; Upgrade to BUY Result Highlights ‐Inline with estimates * 1QFY22 Profitability: The EBITDA and PAT for the quarter stood at Rs 3.81bn (+356% YoY; ‐22% QoQ) and Rs 2.44bn (+667%YoY; ‐26% QoQ); YoY growth was primarily on account of base effect ; however sequential decline stemmed from impact of Covid‐2nd wave. * Gross Margin: The gross margin for the quarter stood sequentially higher ...
Buy Indraprastha Gas Ltd For Target Rs.620 - Yes Securities
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Buy Indraprastha Gas Limited Target Rs. 580 - Religare Broking
Max Healthcare Institute Ltd On the daily chart, the stock has witnessed Multiple Resistance breakout around 285 levels which signals resumption of the uptrend Huge volumes on the breakout , signals increased participation near breakout zone The stock is strong uptrend as it is continue to form a series of higher Tops and higher Bottom formation across all the time frames The stock is also well placed above its 20, 50 and 100 Day SMA which reconfirm bullish trend The daily...
Weekly Tech Picks - Max Healthcare Institute Ltd, Aarti Industries Ltd, Godrej Properties Ltd, Indraprastha Gas Ltd By Axis Securities
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