Indraprastha Gas Limited (IGL) is a city gas distribution company. The Company’s business consists of sale of natural gas. The Company is focused on industrial and commercial business. The Company supplies compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to the domestic, industrial and commercial sectors in Delhi and the National Capital Region (NCR). The Company offers PNG, which includes methane-CH4, as well as other hydrocarbons.

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Company Indraprastha Gas Limited
Recommendation Accumulate (Rs.540-RS.545)
CMP Rs.550.70
Stop Loss (SL) Rs.520
Target Price Rs.590
Time Horizon 2-4 Weeks

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Long term trend is up in this stock. The stock has given a breakout from a cup with handle formation on the daily chart which is bullish in nature. Increase in volume and positive diversion from oscillator indicate that it can move higher from current levels so one can accumulate the stock between (Rs 540-545) With a stop loss of Rs. 520 on closing basis and respected target seems Rs 590. Time frame should be 2-4 weeks.

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