Buy Indraprastha Gas; target Rs 272: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Indraprastha Gas with a target price of Rs 272. The current market price of Indraprastha Gas is Rs 261.65. Time period given by analyst is Intra Day when Indraprastha Gas price can reach defined target. Dr CK Narayan recommended to keep stoploss at Rs 256. Indraprastha Gas, incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 18315.52 crore) operating in Chemicals sector.

Indraprastha Gas key Products/Revenue Segments include Gas Natural which contributed Rs 5052.53 crore to Sales Value (99.62 per cent of Total Sales) and Other Operating Revenue which contributed Rs 19.04 crore to Sales Value (0.37 per cent of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Standalone sales of Rs 1421.50 crore, up 10.42 per cent from last quarter Sales of Rs 1287.40 crore and up 26.23 per cent from last year same quarter Sales of Rs 1126.09 crore Company has reported net profit after tax of Rs 187.28 crore in latest quarter. The company’s top management includes Dr.Sudha Sharma, Mr.Arun Kumar Singh, Mr.E S Ranganathan, Mr.Raghu Nayyar, Mr.Rajiv Sikka, Mr.Satyabrata Bairagi, Mrs.Varsha Joshi.