Last Updated:June 16, 2025, 14:38 IST
IGL Shares Price: Shares of Indraprastha Gas Ltd (IGL) surged nearly 5% on Monday
IGL shares
IGL Shares Price: Shares of Indraprastha Gas Ltd (IGL) surged nearly 5% on Monday after reports emerged that the Delhi government is considering revisions to its electric vehicle (EV) policy, potentially including a relaxation in the timeline for phasing out petrol and CNG-powered vehicles.
According to a Hindustan Times report, the revised policy may also review rules governing cab aggregators and delivery fleets, including placing a cap on surge pricing—moves that could significantly ease operational pressure on traditional fuel providers like IGL.
On the NSE, IGL shares touched an intraday high of Rs 208.50, up 4.84%, snapping a four-session losing streak. The rally was mirrored in related counters, with Mahanagar Gas Ltd also rising 2.51% to Rs 1,378.30 per share.
Policy Relaxation Could Support CNG Volumes
Brokerage firm Citi maintained its ‘Buy’ rating on IGL with a target price of Rs 250, citing that a more pragmatic approach by the new state government could positively impact the company’s business outlook. The cab segment alone accounts for 12–15% of IGL’s total CNG volumes, making it a critical driver of growth.
Citi had earlier noted that the aggressive 2023 EV transition roadmap had dampened volume growth expectations. A more phased or flexible transition could help preserve key demand segments in the medium term.
Q4 Earnings & Stock Performance
In its Q4 FY24 results, IGL reported a 7.7% year-on-year rise in net profit to Rs 421.5 crore, beating analyst estimates, driven by improved margins and steady gas volumes. Revenue from operations stood at Rs 4,135 crore, while EBITDA margins remained healthy amid a stable input cost environment.
Despite broader market volatility and policy-related concerns, IGL stock has shown resilience in recent months, though it had corrected over 10% in the past quarter. Monday’s rebound suggests renewed investor confidence amid signs of a potentially more balanced regulatory approach.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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