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Stock pick of the week: Indraprastha Gas is on the road to recovery

Stock pick of the week: Indraprastha Gas is on the road to recovery
Stock pick of the week: Indraprastha Gas is on the road to recovery

The company is improving its infrastructure to benefi t from the structural growth story.

Synopsis

In a bid to improve its infrastructure, IGL is planning to establish more than 80 new CNG stations in 2020-21 which would help it augment its volumes in the coming years. Improvement in its gross margin is another reason that has made the company a favourite of analysts.

Sales volumes of Indraprastha Gas (IGL), natural gas distributor in the National Capital Region (NCR) fell during the first quarter of 2020-21. However, IGL has started showing volume improvements in the second quarter. Its compressed natural gas (CNG) volumes crossed 80% of pre-Covid levels in July and have reached 85-90% levels in August. Despite the fact that a number of CNG buses are still off the road owing to the reduced public transport
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