indraprastha gas (DeutscheBank) Driving in the fast lane, initiating with Buy

Aggressive capacity expansion to drive EPS CAGR of 16% over FY11-13E; Volume CAGR of 19% to drive EBITDA CAGR of 22% over FY11-13E; Cost advantage of gas over oil-linked fuels to drive switch to CNG/PNG; DCF-based value of INR405; fall in domestic gas supply the key risk
Date Rating Target Price Recommendation Price Broker house
5 May 2011 buy 406 321 DeutscheBank Report

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