India's Indraprastha Gas jumps; Nomura upgrades to 'buy'

Indraprastha Gas

17/12/2025 06:49

** Indraprastha Gas IGAS.NS jumps 6.4% to 195 rupees, marking biggest intraday percentage gain since June 16

** Nomura upgrades city gas distributor to "buy" from "neutral"; raises PT to 230 rupees from 185 rupees, implying 25.6% upside from last close

** Cites attractive valuation; expects margins to improve from lower tax and transmission tariffs and the Delhi Transport Corporation transition that's nearing completion, aiding volume growth

** Forecasts EBITDA margin to improve sequentially by ~3% in Q3FY26, with limited impact from rupee depreciation and higher gas costs offset by domestic and Brent-linked gas prices

** IGAS rated "buy" on average by analysts; median target price is 235 rupees – data compiled by LSEG

** Stock down 6% YTD

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))