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Hold Gujarat Gas; target of Rs 550: ICICI Direct

ICICI Direct recommended hold rating on Gujarat Gas with a target price of Rs 550 in its research report dated November 15, 2022.

November 30, 2022 / 03:45 PM IST
 
 
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ICICI Direct's research report on Gujarat Gas

Gujarat Gas is one of India’s largest city gas distribution companies with highest sales volume among listed peers. Sales volume grew at 15% CAGR in FY17-22 driven by industrial PNG • The company benefitted from the NGT order for Morbi industrial area.

Outlook

We maintain our HOLD rating on the stock. We value GGL at Rs 550 i.e. 19.8x P/E on FY24E EPS.

For all recommendations report, click here

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Gujarat Gas - 16 -11-2022 - icici

Broker Research
first published: Nov 30, 2022 03:45 pm

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