Hold Indraprastha Gas Ltd. with a target of Rs 720 – Deutsche Bank Research

Deutsche Bank Research has a hold call on Indraprastha Gas Ltd. with a target price of Rs 720 . The current market price of Indraprastha Gas Ltd. is 872 . Time period given by analyst is a year when Indraprastha Gas Ltd. price can reach defined target. The global brokerage firm has also raised its FY17-18E earnings per share by 5-6 per cent to factor improved margins. The global brokerage firm forecasts 17 per cent CAGR in FY16-19 EPS, driven by 9.5 per cent CAGR in volumes. The company is well placed to benefit from lower domestic natural gas price, and greater govt focus, said the investment bank.