Jefferies upgrades IGL to ‘buy’, sees 32% upside; stock rises 3%

Global brokerage firm Jefferies has upgraded Indraprastha Gas Ltd (IGL) to a ‘Buy’ rating from ‘Underperform,’ significantly raising its target price to Rs 505, up from Rs 295, reflecting its positive outlook on the company’s prospects.

Following the upgrade, IGL’s stock surged 3%,…