Archive · 16 Jun 2025
IGL Stock Gains on Delhi EV Policy Timeline Shift Reports
Shares of Indraprastha Gas Ltd (IGL) went up almost 5% because the Delhi government might change its rules about electric vehicles (EVs).
This could mean they won't have to get rid of regular gas cars so quickly, which is good for IGL, who sells gas.
The government might also change rules for cabs and deliveries, which could help IGL.
Experts think these changes are positive, and IGL's profits also went up recently.
IGL shares surged nearly 5% on reports of potential revisions to Delhi's EV policy.
The Delhi government is considering changes to its EV policy, potentially relaxing the timeline for phasing out petrol and CNG vehicles.
The revised policy may review rules for cab aggregators and delivery fleets, including a cap on surge pricing.
Citi maintained a 'Buy' rating on IGL with a target price of Rs 250, citing a positive impact from a more pragmatic approach.
IGL reported a 7.7% year-on-year rise in net profit to Rs 421.5 crore in Q4 FY24, beating analyst estimates.
- Who
- IGL
- What
- IGL shares surged due to reports of potential revisions to Delhi's EV policy.
- When
- June 16, 2025
- Where
- Delhi
- Why
- The potential relaxation of EV policy could ease operational pressure on traditional fuel providers like IGL and support CNG volumes.
- Company
- Indraprastha Gas Ltd (IGL)
- Share Increase
- Nearly 5%
- Brokerage Rating
- Citi maintained a 'Buy' rating
- Target Price
- Rs 250
- Q4 FY24 Net Profit
- Rs 421.5 crore (up 7.7% YoY)