PSU Stock Sets Record Date For Dividend, BoB Capital Gives Buy Rating For High Return

Large cap Gas & Petroleum sector stock, Indraprastha Gas Ltd or IGL has fixed February 7, 2023 as the record date for interim dividend. It has a market capitalisation of Rs 28,959.03 crore. Meanwhile, brokerage firm BoB Capital, in its December report, has assigned buy call to the stock with a target price of Rs 520 apiece. If you buy IGL stock now, you will potentially receive 26% return, according to the analyst. Check details below:

1. Indraprastha Gas Fixes Record Date For Interim Dividend

According to the regulatory filing of the Board of Directors of IGL, "we wish to inform that Board of Directors in its meeting held today, has declared interim dividend @ 150% i.e. Rs. 3.00 per share (Face value of Rs. 2/- each) on the equity shares of the Company for the Financial Year 2022-23. The record date for ascertainment of shareholders entitled to receive the aforesaid interim dividend shall be February 7, 2023 (Tuesday)."

2. Indraprastha Gas Stock Performance & Return

The last trading price of the stock is Rs 413.70 apiece with intraday fall of 2.41%. The stock's 52-week high is Rs 451.70 apiece and 52-week low is Rs 322.10 apiece, respectively. The stock has given 14% return in last 6-months, 3% return in last 1-year, declined 16% in last 3-year, and soared over 34% in last 5-years.

3. Indraprastha Gas About

Incorporated in 1998, IGL took over Delhi City Gas Distribution Project in 1999 from GAIL (India) Limited (Formerly Gas Authority of India Limited). IGL continues to augment its infrastructure so as to meet the increasing demand of CNG arising out of growing number of CNG vehicles in Delhi.

The growth drivers for increase in demand of CNG are - car manufacturers coming up with CNG variants and Delhi Government's directive making it mandatory for all LCVs operating in Delhi to run on CNG. The company is in the process of enhancing its compression capacity by adding new stations, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of BoB Capital. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.