IGL Share Price: Shares of Mahanagar Gas and Indraprastha Gas dropped by up to 18% after the government reduced the APM allocation by 20% for the second consecutive month. In response, Nirmal Bang downgraded both stocks to a ‘Sell’ rating, cutting target prices for MGL by 35% and IGL by 31% due to revised EBITDA estimates, concerns over slower growth & narrower margins.
Oversold market poised for short-term rebound: Rohit Srivastava
And if we do not go beyond that and do start falling again, yes, we can create a case that this will become a further
November 18, 2024