Momentum Pick: After 28% returns in 1 year, IGL poised for another 27% upside

Indraprastha Gas (IGL) could gain 27% based on current trends and strong fundamentals, according to Anuj Gupta of IIFL Securities. IGL has returned over 28% over a 12-month period and outperformed the Nifty50 by 13%. The stock has been relatively less volatile and has traded with a one-year beta of 0.71. Anand Rathi maintains a ‘Buy’ rating on IGL for a price target of Rs 600, noting that it could benefit from lower gas prices following the approval of the Kirit Parikh Report recommendations. However, potential risks include slower volume growth and regulatory changes.

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