ICRA reaffirms Indraprashtha rating as AAA

The outlook on the long-term rating of gas retailer in New Delhi is stable.

Sep 30, 2020 01:09 IST India Infoline News Service

ICRA Limited has reaffirmed Credit Rating of Indraprashtha Gas Limited for Rs4000cr at ICRA AAA and ICRA A1+. Outlook on the long term rating is stable.

IGL Chairman P K Gupta while addressing the shareholders at the 21st annual general meeting (AGM) of the company said that the gas retailer in the national capital and cities around it, on Monday said it gave out record 2.72 lakh new connections for piped cooking gas to household kitchens during the financial year 2019-20. Also, the firm set up 55 new CNG stations during April 2019 and March 2020, taking the total number of CNG stations set to 557

Indraprastha Gas Ltd is currently trading at Rs389.65 down by Rs1.6 or 0.41% from its previous closing of Rs391.25 on the BSE.

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