Indraprastha Gas (IGL) has been a consistent wealth creator for long-term investors, gaining more than 900 percent in the last 10 years. The stock rose as much as 969 percent in the last 10 years — from Rs 39 in 2009 to Rs 417 currently.
To put in perspective, an investment of Rs 10,000 in the stock in 2009 would have turned to Rs 1.06 lakh today.
Just in the last 1 year, it has given 68 percent returns to investors while it has risen 55 percent in 2019. Its peer Mahanagar Gas has added 21 percent in the last 1 year.
IGL stock hit its 52-week high of Rs 438.55 on November 21, 2019, and a 52-week low of Rs 248.70 on December 12, 2018. The company's current market capitalisation is about Rs 16,000 crore.
The company has been a major player in India's energy transition and distribution domain. In Q2, the company reported a 103.5 percent year-on-year growth in profit at Rs 381 crore while the revenue grew by 19.1 percent YoY to Rs 1,692 crore. MSCI Inc also added the scrip to its domestic index on November 27.
Global brokerage Morgan Stanley retained its bullish stance on the stock post its Q2 numbers, saying that operational numbers in the recent presentation should help address investor questions on demand.
Citi is also positive on the stock on strong volume growth and margin comfort,
aided by continued focus on environmental issues in Delhi and benign gas
prices.
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First Published: Dec 12, 2019 1:31 PM IST
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