Petronet LNG rises on brokerage buy call

Petronet LNG was up 2.21% to Rs 353.80 at 12:33 IST on BSE on reports that a domestic brokerage has maintained buy call on the stock with a target price of Rs 411.

Meanwhile, the S&P BSE Sensex was up 128.62 points or 0.5% at 25,935.72.

On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 1.33 lakh shares in the past one quarter. The stock had hit a high of Rs 354.40 and a low of Rs 348.55 so far during the day.

The stock had hit a record high of Rs 410.85 on 17 October 2016 and a 52-week low of Rs 230 on 25 February 2016. It had underperformed the market over the past one month till 26 December 2016, sliding 7.19% compared with the Sensex's 1.94% fall. The scrip had, however, outperformed the market in past one quarter, advancing 0.51% as against the Sensex's 8.79% fall.

 

The large-cap company has equity capital of Rs 750 crore. Face value per share is Rs 10.

Petronet LNG's net profit rose 81.7% to Rs 459.56 crore on 12.6% decline in net sales to Rs 6338.51 crore in Q2 September 2016 over Q2 September 2015.

Petronet LNG was formed as a joint venture by the Government of India to import liquified natural gas (LNG) and set up LNG terminals in the country.

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