The research house maintained hold call on IGL as valuations are rich and kept a target of Rs 470 per share.
The share price of gas distribution companies including Mahanagar Gas (MGL), Gujarat Gas and Indraprastha Gas (IGL) rose 3-7 percent in early trade on March 3 after foreign research house Jefferies maintained its bullish view on the stocks.
The research house maintained a hold call on IGL as valuations are rich and kept target at Rs 470 per share.
Meanwhile, both MGL and Gujarat Gas got buy ratings from the brokerage with target price of Rs 1,410 and Rs 360, respectively.
At 09:37 hrs, Mahanagar Gas was quoting at Rs 1,057, up 5.86 percent, Gujarat Gas was quoting at Rs 287.05, up 3.11 percent and Indraprastha Gas was quoting at Rs 447.55, up 3.31 percent on the BSE.
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First Published on Mar 3, 2020 10:06 am
