Gurugram foray adds to Indraprastha Gas' strong prospects

The approval is for 25% of total opportunity around Gurugram leading to scope for further expansion

The news of Indraprastha Gas (IGL) getting a go ahead from the Haryana government to operate its city gas distribution (CGD) network in Gurugram led to more gains on the bourses. The stock scaled its all-time high of Rs 1,164.70 on Monday before closing 2.3% higher at Rs 1,148. Tuesday has seen some decline in the counter largely due to weak market sentiment.

The news, however, adds to already strong growth prospects for IGL in the national capital region (NCR) of Delhi. The rising demand from various segments as piped natural gas (PNG) distribution, compressed gas, industrial demand, etc