Motilal Oswal maintains a neutral rating on IGL post March quarter results with a 12-month target price of Rs 582. "We expect continued volume revival in the medium to long term which led by (a) confluence of administrative and judicial steps undertaken to contain pollution in Delhi (b) subdued domestic gas price outlook and more car conversion in response to odd-even scheme," said the brokerage note.
"We roll over our target price to FY18 basis to SOTP-based fair value of Rs 582," added the report.
"We roll over our target price to FY18 basis to SOTP-based fair value of Rs 582," added the report.
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