Indraprastha Gas (IGL) posted a strong March quarter with 12% on-year jump in profits at Rs 2,534 crore driven by better EBITDA margins of 22% and a 17% fall in taxes. However, brokerage firms have a mixed reaction, some say it is time to sell the stock as IGL is expected to have been hit drastically by the lockdown and normalcy for the firm looks a distant dream that may be realised only in the financial year 2022, while other say IGL is a steady growth story with a robust volume growth outlook and high exposure to priority sectors. IGL’s share price slipped 4.4% on Thursday morning as the stock tumbled down to trade at the price of Rs 453 per share.
