conversion and new bus addition in Delhi will drive earnings. Also, report of ban on competing industrial fuel is a major positive. Reiterate BUY with a three-year DCF-based PT of Rs360. Stellar volume growth remain the highlight: Indraprastha Gas' (IGL's) Q4FY19 volume momentum remains intact- overall sales volume growth was at 564mscm (17% YoY). Q4 EBITDA and PAT of Rs3.3bn (PLe: Rs3.3bn; +14%YoY) and Rs2.25bn (PLe: Rs2.13; +29% YoY). For FY19, EBIDTA and PAT was at Rs12.5bn (+12%YoY) and Rs7.9bn (+17%YoY)...