Flash News Investment - - RECOMMENDATIONS -

{Ticker : 532514 { BUY: ₹253.75 { Tar­get: ₹280

IGL is a joint ven­ture com­pany by GAIL and BPCL en­gaged in the busi­ness of sup­ply­ing nat­u­ral gas to trans­port, do­mes­tic, com­mer­cial and in­dus­trial con­sumers. Dur­ing Q1FY19, the com­pany’s to­tal vol­umes grew by 12.5 per cent, with CNG vol­umes grow­ing by 10.6 per cent YoY and PNG vol­umes by 18.3 per cent YoY. Also, un­der the Green Bud­get scheme, Delhi pro­vides 50 per cent con­ces­sion on reg­is­tra­tions of CNG cars, lead­ing to ro­bust de­mand in the state. The ris­ing petrol and diesel prices is lead­ing peo­ple to opt for CNG con­ver­sions. The com­pany’s re­cent in­vest­ment in Ma­ha­rash­tra and cen­tral UP has led it to tap mar­kets in Pune, Mum­bai, Jhansi, Kan­pur etc. Con­sid­er­ing ro­bust vol­ume growth, led by chang­ing en­vi­ron­men­tal norms, de­cent mar­gins and foray into new ge­o­graph­i­cal ar­eas, we rec­om­mend in­vestors to BUY the scrip.

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