Petronet LNG to benefit post budget: Prabhudas Lilladher

MUMBAI: Finance Minister Pranab Mukherjee has proposed exemption from basic custom duty on LNG imported for power generation in his budget speech. This is likely to benefit Petronet LNG which has a terminal at Kochi and GAIL, say Prabhudas Lilladher.

“Against the industry demand of complete removal of import duty on LNG import to provide the level-playing field, budget has only removed custom duty on LNG imported for the power generation. The same is slightly positive for the upcoming terminal at Kochi (Petronet LNG) and Dabhol (GAIL).

Petronet LNG is the brokerage’s top sectoral pick in the sector.