Nuvama slashes target price for this City Gas Stock: 3 reasons why

Nuvama downgrades Indraprashta Gas with a ‘Reduce’ call and reduced target price due to sector de-rating and government policies causing uncertainty. Q4FY25 results were affected by one-off provision reversal and lower volumes, with management anticipating margin recovery. However, the broker predicts potential volume decline due to the Delhi EV policy and demand slowdown.