Indian equity benchmarks continued their weak trend for the third consecutive session on Wednesday, December 17, as persistent pressure from foreign fund outflows, rupee weakness, and delays surrounding the India–US trade agreement weighed on investor sentiment.
The Sensex closed lower by 120 points, or 0.14%, at 84,559.65, while the Nifty 50 slipped 42 points, or 0.16%, to end at 25,818.55. Broader markets underperformed, with the BSE Midcap index declining 0.53% and the Smallcap index falling 0.85%.
Market participants remained cautious amid ongoing volatility. Realty, FMCG, and financial stocks emerged as key laggards, while IT and metal stocks managed to close flat to marginally positive. The market remains in a corrective phase, with sustained pressure in the broader indices continuing to impact overall sentiment.
Against this backdrop, selective stock picking becomes crucial. One stock that has drawn strong investor attention following recent developments is Indraprastha Gas Ltd.
Indraprastha Gas Ltd. [NSE: IGL]
Indraprastha Gas Ltd has moved into focus after global brokerage Nomura upgraded the stock to a ‘Buy’ from ‘Neutral’, citing attractive valuations and improving margin outlook. The upgrade comes after a sharp correction of nearly 14% over the past month, which has significantly improved the stock’s risk-reward profile.
The brokerage highlighted easing global gas prices, particularly the correction in Henry Hub gas prices, as a key positive for city gas distributors like IGL. Lower imported gas costs, combined with muted domestic gas prices linked to Brent crude, are expected to support margins in the coming quarters. Nomura has set a target price of ₹230, indicating meaningful upside from current levels.
Further support comes from regulatory developments. The Petroleum and Natural Gas Regulatory Board’s decision to implement a unified gas transportation tariff from January 1, 2026, is expected to reduce transportation costs for the CGD sector. This reform is likely to lower delivered CNG and PNG prices, supporting volume growth while improving profitability for companies like IGL.
Nomura expects IGL’s EBITDA margins to improve sequentially by around 3% in Q3 FY26, with the benefits of lower transmission tariffs and easing gas prices outweighing the impact of rupee depreciation. With margins stabilising, volumes improving, and valuations remaining reasonable, Indraprastha Gas stands out as a stock to track in today’s session.
Key Stock Details:
| Particulars | Details |
| Closing Price (as of Dec 17, 2025) | ₹192.74 |
| Average Trading Volume | 3.56 million |
| Company Type | Large-cap stock |
| Market Capitalisation | ₹27,240 crore |
| P/E Ratio | 17.07 |
| Dividend Yield | 2.18% |
| 52 Week High | ₹229.00 |
| 52 Week Low | ₹172.00 |
| Day range | ₹190.49 – ₹196.17 |
| Beta | 1.10 |
Conclusion
Stock recommendations are based on prevailing market conditions, company fundamentals, and near term catalysts. In volatile markets, investors should focus on stocks with strong balance sheets, clear earnings visibility, and supportive industry trends. Indraprastha Gas fits this profile, supported by easing input costs, regulatory tailwinds, and renewed confidence from global brokerages.
That said, stock market investments do not guarantee returns. Investors should evaluate their risk appetite, track broader market cues, and use proper risk management strategies such as stop losses and disciplined position sizing before taking exposure.
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