Shares of Gujarat GasNSE 1.05 % and Indraprastha GasNSE 0.69 % gained up to 3 per cent in Monday’s trade after global brokerage Macquarie raised its target price on the scrips.
The Australian broker said it continues to remain positive on Indian city gas space. Hence, it raised its target price on Gujarat Gas from Rs 240 to Rs 330 per share. This means a potential upside of nearly 20 per cent from the last close.
Macquarie while maintaining ‘outperform’ rating said the regulatory tailwinds will support volume growth for the company.
