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IGL Price Target Potential
| Brokerage | Target | Potential |
|---|---|---|
| Geojit Financial Services | 474 | 8.42% |
| Prabhudas Lilladher | 660 | 34.23% |
| Nirmal Bang | 483 | 10.12% |
| Sharekhan | 650 | 33.22% |
IGL Ratings
Long term IGL rating by FrontPage users
- ★★
- ★★
- ★★
- ★★
- ★★
NaN/5 ( Ratings)
IGL share price target reports by brokerages below. See what is analyst's view on IGL share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
IGL Share Price Target
IGL Share Price Target - Broker Reports - 2022
Geojit Financial Services
Price @ Call: 390
11-Feb-22
Target: 474
BUY
Prabhudas Lilladher
Price @ Call: 392
8-Feb-22
Target: 660
BUY
Nirmal Bang
Price @ Call: 392
9-Feb-22
Target: 483
BUY
IGL Share Price Target - Broker Reports - 2021
Sharekhan
Price @ Call: 499
7-Dec-21
Target: 650
BUY
Nirmal Bang
Price @ Call: 497
18-Nov-21
Target: 579
BUY
ICICIdirect.com
Price @ Call: 500
12-Nov-21
Target: 560
HOLD
HDFC Securities
Price @ Call: 494
10-Nov-21
Target: 720
BUY
Motilal Oswal
Price @ Call: 494
9-Nov-21
Target: 520
NEUTRAL
Prabhudas Lilladher
Price @ Call: 494
9-Nov-21
Target: 662
BUY
Nirmal Bang
Price @ Call: 494
10-Nov-21
Target: 571
BUY
HDFC Securities
Price @ Call: 535
14-Aug-21
Target: 691
BUY
Sharekhan
Price @ Call: 535
13-Aug-21
Target: 650
BUY
Nirmal Bang
Price @ Call: 535
17-Aug-21
Target: 561
ACCUMULATE
ICICIdirect.com
Price @ Call: 535
19-Aug-21
Target: 585
HOLD
Geojit Financial Services
Price @ Call: 528
18-Aug-21
Target: 624
BUY
Prabhudas Lilladher
Price @ Call: 561.1
7-Jul-21
Target: 662
BUY
Sharekhan
Price @ Call: 508.9
12-Mar-21
Target: 650
BUY
Prabhudas Lilladher
Price @ Call: 555.5
10-Feb-21
Target: 662
BUY
IGL Share Price Target - Broker Reports - 2020
Geojit Financial Services
Price @ Call: 451.92
24-Nov-20
Target: 523
BUY
Prabhudas Lilladher
Price @ Call: 438.67
11-Nov-20
Target: 603
BUY
Nirmal Bang
Price @ Call: 408.94
22-Sep-20
Target: 534
BUY
Prabhudas Lilladher
Price @ Call: 476.02
17-Jun-20
Target: 597
BUY
Nirmal Bang
Price @ Call: 308.7
23-Mar-20
Target: 431
BUY
We are upgrading Indraprastha Gas (IGL) from Sell to Buy based on 41.3% upside from CMP to our revised DCF-based TP of Rs431, assuming regulated tariff, post the 30% correction in the stock from three months ago.The new TP includes Rs52/sh we estimate for the new CGD areas (GAs) under development. We have cut our FY20-22E estimates by 1.9%/16%/15.2% based on volume and margin assumptions tempered for the twin impact of COVID19 and the slowdown. We see moderation in IGL’s city gas volume growth in 4QFY20 to 9% vs 13.4% in 3QFY20, implying nil growth in March 20. Further we could see nil growth in 1HFY21~with contraction of 6% likely in 1QFY21E, if the COVID 19 and slowdown impact continue for another six months. And growth is likely to revive in 2HFY21E, assuming normalcy is restored by Sept/Oct 20. This implies 8% annual volume growth in FY21Evs 11.5% in FY20E and 13.7% on average for FY17-19. We still have concerns over the potential transition to 20% open access for IGL’s Delhi Franchise, which could pose the risk of attrition in CNG and Industrial market share to the extent of 20%. Our Buy is based on (i) the improved risk-reward at current valuations, which in our view prices in the above concern, (ii) the potential for long term growth from its new license areas (GAs), which we value at Rs52/sh, and (iii) the healthy balance sheet that would support a revival in returns once the capex over the next 2 years starts paying off.
Prabhudas Lilladher
Price @ Call: 521.25
6-Feb-20
Target: 616
BUY
We tweak our estimates to incorporate healthy 9M performance. IGL remains a play on rising pollution concerns. Expanding geographical reach coupled with increased cars/taxis conversion and new bus addition in Delhi will drive earnings. Also, ban on competing industrial fuel is a major positive. Sharp drop in spot LNG prices offer new margin levers for the company. Reiterate “BUY” with a three-year DCF-based PT of Rs616 (Rs468 early) on rollover
IGL Share Price Target - Broker Reports - 2019
Prabhudas Lilladher
Price @ Call: 409
11-Dec-19
Target: 468
BUY
Prabhudas Lilladher
Price @ Call: 392.77
7-Nov-19
Target: 468
BUY
We tweak our estimates to incorporate better than expected H1 performance and lower tax rate. IGL remains a play on rising pollution concerns. Expanding geographical reach coupled with increased cars/taxis conversion and new bus addition in Delhi will drive earnings. Also, ban on competing industrial fuel is a major positive. We see limited threat to recent concept paper released by PNGRB to allow new players in existing geography given high entry barriers and concerns on allocation of subsidized APM gas. Reiterate “BUY” with a three-year DCF-based PT of Rs468 (Rs400 early).
HDFC Securities
Price @ Call: 327.05
19-Aug-19
Target: 403
BUY
We maintain BUY on IGL following its stellar performance in 1QFY20. Our target price is Rs 402/sh (25x Jun-21E standalone EPS and 23x Jun-21E MNGL and CUGL).
Prabhudas Lilladher
Price @ Call: 313.97
14-Aug-19
Target: 378
BUY
Volume traction + margin expansion
We maintain our estimates for FY20 & FY21. IGL remains a play on rising pollution concerns. Expanding geographical reach coupled with increased cars/taxis conversion and new bus additions in Delhi will drive earnings. Also, report of ban on competing industrial fuel is a major positive. We see limited threat to recent concept paper released by PNGRB to allow new players in existing geography given high entry barriers and concerns on allocation of subsidized APM gas. Reiterate “BUY” with a three-year DCF- based PT of Rs378 (Earlier Rs360) on rollover.
We maintain our estimates for FY20 & FY21. IGL remains a play on rising pollution concerns. Expanding geographical reach coupled with increased cars/taxis conversion and new bus additions in Delhi will drive earnings. Also, report of ban on competing industrial fuel is a major positive. We see limited threat to recent concept paper released by PNGRB to allow new players in existing geography given high entry barriers and concerns on allocation of subsidized APM gas. Reiterate “BUY” with a three-year DCF- based PT of Rs378 (Earlier Rs360) on rollover.
HDFC Securities
Price @ Call: 314.6
26-Jul-19
Target: 384
BUY
Stance: Entering new GAs is a better bet for new entrants, rather than competing with incumbents, given (1) Assurance on APM gas allocation, and (2) Marketing and infrastructure exclusivity. Hence, we do not foresee material threat to business. IGL generates OCF yield of almost 5.5% and RoIC of >30% over FY20/21E. Valuations are contextually moderate at 22.0x FY21E EPS. Maintain BUY with a TP of Rs 384/sh.
Centrum
Price @ Call: 332.32
27-May-19
Target: 361
BUY
ICICIdirect.com
Price @ Call: 330.2
28-May-19
Target: 350
HOLD
Environmental concerns in Delhi have brought to the fore the urgency of using cleaner fuels, which puts IGL in a sweet spot. IGL has a unique identity of a company with a rare mix of volume growth and strong margins, supported by supportive governmental initiatives. Also, growth from new areas like Rewari, Dharuhera, Bawal, Karnal, etc would add to volumes. Webelieve IGL’s investment in Maharashtra Natural Gas (MNGL) and Central UP Gas (CUGL) is positive, giving it access to gas demand in Pune, Kanpur, Bareilly, Unnao and Jhansi. However, given the current valuations, we have a HOLD recommendation on the stock. We value standalone IGL at 24x EPS of Rs 13.6/share and investment in CUGL and MNGL at ~Rs 21 per share to arrive at a target price of RS350.
Nirmal Bang
Price @ Call: 312.05
27-May-19
Target: 411
BUY
We have observed a rise in the cost of raw material (natural gas) by 34% YoY, leading to a drop in EBITDA margin to 19.5% in 4QFY19 from 23.6% in 4QFY18. We have retained Buy rating on IGL with a revised target price of Rs411 (from Rs385 earlier) based on a forward P/E of 25x March 2021E estimated earnings.
Prabhudas Lilladher
Price @ Call: 312.83
25-May-19
Target: 360
BUY
The company has guided for domestic revenue growth of 10-15% YoY for FY20. KKC expects good growth in HHP segment mainly driven by data center, commercial realty, manufacturing etc. KKC is seeing weak demand from exports markets amid uncertain global growth and volatile forex markets. We have modelled 10%/11% Revenue/PAT CAGR over next two years (FY19-21E). The stock is currently trading at 27/23x FY20/21E. We maintain our Accumulate rating on the stock with TP of Rs841 (26xFY21E).
Motilal Oswal
Price @ Call: 297.75
13-Mar-19
Target: 389
BUY
We do not expect EVs to be a threat to IGL in the short-to medium-term. We expect volume growth to stay strong at 12%/11% in FY20/21. In the short term, EBITDA/scm may increase due to the INR appreciation. However, we remain conservative with estimate of INR5.8/INR5.9 in FY20/21. Both IGL’s subsidiaries — MNGL and CUGL – have been growing at a steady pace. Contribution from JVs for 9MFY19 stands at INR695m, +25% YoY. We expect ROEs of 20.1%/19.9% in FY20/21. The stock is trading at 23.4x FY20 standalone EPS of INR12.7. We expect standalone EPS CAGR of 16% during FY18-21. We move our valuation from Dec’20 to FY21, valuing IGL at 24x (unchanged) FY21 standalone EPS of INR14.6, adding the contribution from its JVs. With a target price of INR389 (earlier: INR381), we reiterate our Buy recommendation for the stock.
Dolat Capital
Price @ Call: 289.43
8-Feb-19
Target: 368
BUY
HDFC Securities
Price @ Call: 289.43
8-Feb-19
Target: 381
BUY
Motilal Oswal
Price @ Call: 298.45
7-Feb-19
Target: 381
BUY
Prabhudas Lilladher
Price @ Call: 298.45
7-Feb-19
Target: 360
BUY
IGL Share Price Target - Broker Reports - 2018
Motilal Oswal
Price @ Call: 261.65
18-Dec-18
Target: 381
BUY
Motilal Oswal
Price @ Call: 272.26
13-Nov-18
Target: 371
BUY
ICICIdirect.com
Price @ Call: 274.75
12-Nov-18
Target: 295
HOLD
HDFC Securities
Price @ Call: 277.48
6-Nov-18
Target: 370
BUY
AnandRathi
Price @ Call: 252.8
30-Oct-18
Target: 319
BUY
HDFC Securities
Price @ Call: 243.85
22-Oct-18
Target: 282.5
BUY
Kotak Securities
Price @ Call: 274.5
7-Sep-18
Target: 257
SELL
KRChoksey
Price @ Call: 284.85
16-Aug-18
Target: 340
BUY
ICICIdirect.com
Price @ Call: 285.49
14-Aug-18
Target: 295
BUY
HDFC Securities
Price @ Call: 298.25
13-Aug-18
Target: 441
BUY
Kotak Securities
Price @ Call: 298.25
13-Aug-18
Target: 257
SELL
Motilal Oswal
Price @ Call: 300.89
10-Aug-18
Target: 383
BUY
HDFC Securities
Price @ Call: 254.34
2-Jul-18
Target: 279
BUY
HDFC Securities
Price @ Call: 253.01
24-Jun-18
Target: 422
BUY
Edelweiss
Price @ Call: 258.17
25-May-18
Target: 334
BUY
Motilal Oswal
Price @ Call: 263.35
24-May-18
Target: 384
BUY
Prabhudas Lilladher
Price @ Call: 261.84
23-May-18
Target: 344
BUY
Kotak Securities
Price @ Call: 310
9-Mar-18
Target: 250
SELL
KRChoksey
Price @ Call: 291.06
8-Feb-18
Target: 400
BUY
Kotak Securities
Price @ Call: 290.9
8-Feb-18
Target: 270
SELL
Edelweiss
Price @ Call: 290.9
8-Feb-18
Target: 355
BUY
Motilal Oswal
Price @ Call: 290.7
7-Feb-18
Target: 416
BUY
Prabhudas Lilladher
Price @ Call: 290.7
7-Feb-18
Target: 333
BUY
IGL Share Price Target - Broker Reports - 2017
Motilal Oswal
Price @ Call: 328.58
19-Dec-17
Target: 404
BUY
Prabhudas Lilladher
Price @ Call: 322.8
14-Dec-17
Target: 342
BUY
Motilal Oswal
Price @ Call: 312
28-Nov-17
Target: 404
BUY
Nirmal Bang
Price @ Call: 318.85
13-Nov-17
Target: 394
BUY
Dolat Capital
Price @ Call: 311
22-Nov-17
Target: 368
ACCUMULATE
Kotak Securities
Price @ Call: 310.1
10-Nov-17
Target: 291
SELL
Dolat Capital
Price @ Call: 251.84
23-Aug-17
Target: 263.4
BUY
Axis Direct
Price @ Call: 255.71
18-Aug-17
Target: 268
BUY
Edelweiss
Price @ Call: 243.21
14-Aug-17
Target: 287
BUY
Kotak Securities
Price @ Call: 243.21
14-Aug-17
Target: 190.4
SELL
Edelweiss
Price @ Call: 224.4
17-Jul-17
Target: 250.2
BUY
Edelweiss
Price @ Call: 211.47
3-Jul-17
Target: 250.2
BUY
HDFC Securities
Price @ Call: 205.2
30-May-17
Target: 246
BUY
ICICIdirect.com
Price @ Call: 205
30-May-17
Target: 228
BUY
HDFC Securities
Price @ Call: 205.6
10-Feb-17
Target: 240
BUY
Axis Direct
Price @ Call: 203.2
14-Feb-17
Target: 230
BUY
ICICIdirect.com
Price @ Call: 203
10-Feb-17
Target: 228
BUY
IGL Share Price Target - Broker Reports - 2016
Religare
Price @ Call: 577.05
16-May-16
Target: 710
BUY
Motilal Oswal
Price @ Call: 579.7
17-May-16
Target: 582
NEUTRAL
Prabhudas Lilladher
Price @ Call: 164.4
17-Nov-16
Target: 216
BUY
Motilal Oswal
Price @ Call: 177.25
22-Dec-16
Target: 179.6
NEUTRAL
KRChoksey
Price @ Call: 168
18-Nov-16
Target: 197.4
BUY
Axis Direct
Price @ Call: 164.4
17-Nov-16
Target: 188
BUY
ICICIdirect.com
Price @ Call: 168
17-Nov-16
Target: 184
BUY
Edelweiss
Price @ Call: 164.8
16-Nov-16
Target: 196.6
BUY
Prabhudas Lilladher
Price @ Call: 155.6
28-Sep-16
Target: 216
BUY
Edelweiss
Price @ Call: 146
22-Aug-16
Target: 179.2
BUY
Motilal Oswal
Price @ Call: 145.8
22-Aug-16
Target: 154.8
NEUTRAL
ICICIdirect.com
Price @ Call: 152.4
23-Aug-16
Target: 174
BUY
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SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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