Buy Indraprastha Gas, target Rs 390: Abhijit Pathak

Abhijit Pathak of Definedge Solutions has a buy call on Indraprastha Gas Ltd. with a target price of Rs 390. The current market price of Indraprastha Gas Ltd. is Rs 368.55 Time period given by the analyst is Intra Day when Indraprastha Gas price can reach the defined target. Abhijit Pathak recommended to keep stoploss at Rs 365.

Indraprastha Gas Ltd., incorporated in 1998, has a market cap of Rs 25798.53 crore. Indraprastha Gas Ltd. key Products/Revenue Segments include Gas Natural which contributed Rs 5052.53 Crore to Sales Value (99.62 % of Total Sales) and Other Operating Revenue which contributed Rs 19.04 Crore to Sales Value (0.37 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 1576.12 Crore, up 2.17 % from last quarter Sales of Rs 1542.64 Crore and up 22.29 % from last year same quarter Sales of Rs 1288.79 Crore Company has reported net profit after tax of Rs 211.45 Crore in latest quarter. The company’s top management includes Dr.Akhilesh Kumar Ambasht, Mr.Amit Garg, Mr.Deepak Mishra, Mr.E S Ranganathan, Mr.Gajendra Singh, Mr.R P Natekar, Mr.Rajeev Verma, Mr.Rajib Sekhar Sahoo, Mr.Ramesh Narain Misra, Mrs.Saroj Bala. Company has Walker Chandiok & Co. LLP as its auditoRs As on 30-06-2019, the company has a total of 700,000,800 shares outstanding.