This midcap gas stock has up to 60% upside. Time to buy?
ICICI Securities said IGL's 62 per cent YoY jump in EBITDA and 72 per cent surge in net earnings came despite an aggressive pass-through of the sharply higher gas costs in the past 4-5 months and flat petrol/diesel prices. It has a 'Buy' call on the stock with a target price of Rs 540, signalling a potential upside of 50.5 per cent in the counter, from its previous close of Rs 358.70.