{"id":611661,"date":"2023-10-21T11:16:35","date_gmt":"2023-10-21T05:46:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=611661"},"modified":"2023-10-21T12:27:16","modified_gmt":"2023-10-21T06:57:16","slug":"indraprastha-gas-ltd-stock-nosedives-on-new-ev-policy","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indraprastha-gas-ltd-stock-nosedives-on-new-ev-policy\/","title":{"rendered":"Indraprastha Gas Ltd stock nosedives on New EV policy"},"content":{"rendered":"<p>NEW DELHI: Indraprastha Gas Ltd, India\u2019s largest city gas distributor by revenue, is heading for its worst day in more than three years after Jefferies and Morgan Stanley downgraded the stock following a new electric vehicle policy in the national capital.<\/p>\n<p>Delhi accounts for 88% of IGL\u2019s overall volumes but the EV policy could put about a third of it at risk, Jefferies analysts Bhaskar Chakraborty and Niraj Todi wrote in a note. The brokerage downgraded the stock to hold from buy earlier, while slashing its price target by 18%. Morgan Stanley also cut its recommendation to underweight.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Indraprastha Gas Ltd, India\u2019s largest city gas distributor by revenue, is heading for its worst day in more than three years after Jefferies and Morgan Stanley downgraded the stock following a new electric vehicle policy in the national capital. Delhi accounts for 88% of IGL\u2019s overall volumes but the EV policy could put about a third of it at risk, Jefferies analysts Bhaskar Chakraborty and Niraj Todi wrote in a note. The brokerage downgraded the stock to hold from buy earlier, while slashing its price target by 18%. Morgan Stanley also cut its recommendation to underweight.<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-611661","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/611661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=611661"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/611661\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=611661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=611661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=611661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}