Indraprastha Gas Limited (NSE: IGL): The price of gas marketing and transmission PSU Indraprastha Gas Limited (IGL) today saw a dramatic increase and reached the upper end of the circuit.
The stock climbed to an intraday high of Rs 435.30 and climbed over 5 percent throughout the trading session.
Today, the stock started trading at Rs 407.60 and slid to the low of Rs 407. The company is valued at a market capitalization of Rs 30,04,000 crore.
Moving averages are in the picture, IGL is currently trading higher than its twenty-day and fifty-day moving averages, which indicates the short-term bullish trend.
However, it’s below the five-day, hundred-day, and two-hundred-day moving averages suggesting that it will face resistance over the long run.
When comparing IGL against the overall market performance, IGL’s stock is higher than the Sensex.
While the Sensex decreased by 0.35 percent, however, IGL stock posted a gain of 5.04 percent on the final day.
IGL has risen 11.03 percent over the last month while the Sensex has fallen by 4.46 percent.
IGL has a P/E ratio of 16.26 and the dividend payout has been set at 2.45 percent. The most expensive price during that 52-week time frame was Rs 570.35 and the lowest price of Rs 306.10.
According to the recommendations of analysts for Indraprastha Gas Limited (IGL) stock, the company is currently recommended to “Hold”.
Of the 31 suggestions from analysts, six analysts have a score of “Strong Buy”. 6 have a “Buy” rating, 6 “Hold”, 6 have a “Sell” rating, and 7 have a “Strong Sell” rating.
JM Financial has a target price of Rs 470 as of the 8th of May, 2024 and HDFC Securities has a target of Rs 500 by November 28th, 2023.
Citi offers a “Buy” option for Indraprastha Gas Limited (IGL) and has a price target of Rs 450 per share.
When looking at the shareholding patterns for Indraprastha Gas Limited (IGL) at the end of September 2024 the stake of promoters is still 45 percent whereas FII (19.29 percent) as well as DII (23.18 percent) stakes have shifted slightly.
At the same time, BPCL has announced that its board has ratified the listing of Maharashtra Natural Gas Limited (MNGL).
MNGL is an alliance between IGL, BPCL, and GAIL and it is owned by the Maharashtra State Government and has a five percent stake.
The company is authorized to provide CGD (City Gas Distribution) in the city of Pune.
Quick Fact
| Company name | Indraprastha Gas |
|---|---|
| Market cap | ₹30,04,000 crore |
| Intraday high | ₹435.95 |
| Intraday low | ₹407 |
| Moving averages | Above 20-day, 50-day |
| Resistance expected | Below 5-day, 100-day, 200-day |
| P/E ratio | 16.26 |
| Dividend payout | 2.45% |
| Monthly growth | 11.03% |
| Sensex comparison | IGL higher |
| Analyst recommendation | Hold |
| “Strong Buy” ratings | 6 |
| “Buy” ratings | 6 |
| “Hold” ratings | 6 |
| “Sell” ratings | 6 |
| “Strong Sell” ratings | 7 |
| JM Financial’s possible target price | ₹470 (May 2024) |
| HDFC Securities’ possible target price | ₹500 (Nov 2023) |
| Citi’s possible target price | ₹450 |
| Promoter stake | 45% |
| FII stake | 19.29% |
| DII stake | 23.18% |
Table for BPCL
| Company name | BPCL |
|---|---|
| MNGL stake | 5% |
| MNGL partners | IGL, BPCL, GAIL |
| MNGL purpose | City Gas Distribution |
| CGD city | Pune |
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