http://www.iglonline.net/
EPS Rs 12.32 Book Value Rs 48.81
About the company:
Incorporated in 1998, IGL took over Delhi City Gas Distribution Project in 1999 from GAIL (India) Limited (Formerly Gas Authority of India Limited ). The project was started to lay the network for the distribution of natural gas in the National Capital Territory of Delhi to consumers in the domestic, transport, and commercial sectors. With the backing of strong promoters – GAIL (India) Ltd. and Bharat Petroleum Corporation Ltd. (BPCL) – IGL plans to provide natural gas in the entire capital region.
The transport sector uses natural gas as Compressed Natural Gas (CNG) , while the domestic and commercial sectors use it as Piped Naural Gas (PNG).
Milestones
- Incorporated in December, 1998.
- Having confidence of over 80,000 esteemed investors.
- Nominated as “Emerging Company of the Year 2003-04” by The Economic Times.
- Declared Winner of Golden Peacock Eco-Innovation Award 2006.
- Having 182 CNG stations.
- Fuelling over 3,00,000 vehicles including around 13,000 buses, 94,000 three wheelers and around 1,75,000 private cars.
- Supplying online cooking gas to over 1,45,000 households.
- Providing energy solutions to major 5-star hotels, hospitals, embassies and restaurants.
Probable Catalyst:-
Indraprastha Gas (IGL) is at the threshold of a huge boost given that the Government is set to notify Section 16 of the Petroleum & Natural Gas Regulatory Board (PNGRB) Act with suitable amendments in the Winter Session. Though these amendments are unknown, various reports suggest that IGL would get exclusive distribution rights for CNG & PNG in Gurgaon, Faridabad, Noida and Greater Noida – the National Capital Region (NCR). Besides, the interim decision of the Delhi High Court for city gas distribution (CGD) in Ghaziabad favoured IGL and the Court directed the company to start expanding its CNG footprint in the city. Allocation of Ghaziabad to IGL would improve visibility as regards geographical expansion. Accumulate the stock for targets around Rs 300 as investment.
Technical Outlook:-
INDRAPRASTHA GAS stock shows a rounding bottom pattern in weekly graph and can return nearly 20-30% in short-term.
