Buy Indraprastha Gas, target price Rs 470: JM Financial

JM Financial has buy call on Indraprastha Gas with a target price of Rs 470. The current market price of Indraprastha Gas is Rs 455.75.

Indraprastha Gas Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 30604.03 Crore) operating in Gas & Petroleum sector.

Indraprastha Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 3676.68 Crore, up 1.83 % from last quarter Total Income of Rs 3610.76 Crore and down -2.02 % from last year same quarter Total Income of Rs 3752.62 Crore. Company reported net profit after tax of Rs 351.77 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 45.0 per cent stake in the company as of 31-Mar-2024, while FIIs owned 16.81 per cent, DIIs 24.22 per cent.