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• Prabhudas Lilladher recommends a hold rating on Indraprastha Gas with a target price of Rs 406.
• The company reported an EBITDA/PAT of Rs 6.6bn and Rs 5.3 bn for the quarter, with sales growing by 3% on a YoY basis.
• The company targets to reach an exit volume of 9 mmscmd in FY24 and has a conservative volume growth CAGR of 7% over FY24-26E.