Indraprastha Gas share price surged 6.5 percent in trade after global brokerage Nomura upgraded the stock to ‘Buy’ from ‘Neutral’, citing an improved risk-reward outlook following a sharp correction in the stock.
Nomura said the recent decline in Indraprastha Gas shares has created an attractive entry point for investors, with downside risks largely priced in. The brokerage believes the company’s fundamentals, stable cash flows, and long-term growth prospects now offer favourable risk-reward dynamics.
Brokerage View Turns Positive
According to Nomura, the correction in the stock has eased valuation concerns, making Indraprastha Gas more appealing at current levels. The firm expects demand recovery in CNG and PNG segments, supported by urban mobility trends and expanding city gas distribution infrastructure.
Market Reaction
Following the upgrade, buying interest intensified in early trade, pushing Indraprastha Gas shares higher and making it one of the top gainers in the gas distribution space.
Outlook
Analysts believe the stock could see re-rating potential as earnings visibility improves and volume growth stabilises, especially with moderation in gas input costs and policy support for cleaner fuels.
Keywords: Indraprastha Gas share price, Nomura upgrade Indraprastha Gas, city gas distribution stocks, CNG PNG demand, gas stocks India
