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Reduce Indraprastha Gas; target of Rs 122: Angel Broking

Posted on: May 30th 2009 in Brokerage Recommendations.

Angel Broking has recommended a reduce rating on Indraprastha Gas with a price target of Rs 122 in its report dated May 28, 2009. “For 4QFY2009, IGL reported 21.8% yoy jump in Operating Income to Rs 228.5 cr (Rs 187.6 cr), which was marginally above our expectation of Rs 225.8 cr. …

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