UBS on Gas Cos
IGL- Buy TP Rs 630
MGL- Buy, TP Rs 1280
Guj Gas- Sell, TP Rs 400
Calculations suggest delivered gas cost for 2nd half of Q2 is 30% lower than 1st half of Q2
UBS on Gas Cos
Est. gross margins for Sept are 25-40% higher than Q1FY23 levels, which could allow CGDs to absorb (fully/partly) a potential increase in domestic gas cost from Oct
