Buy GSPL, target price Rs 297: ICICI Securities

ICICI Securities has buy call on Gujarat State Petronet Ltd. with a target price of Rs 297. The current market price of Gujarat State Petronet Ltd. is Rs 209.15.

Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 11797.66 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2980.43 Crore, up 97.98 % from last quarter Sales of Rs 1505.42 Crore and down -2.06 % from last year same quarter Sales of Rs 3043.23 Crore. Company reported net profit after tax of Rs 704.42 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 37.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 15.6 per cent, DIIs 30.9 per cent and public and others 15.9 per cent.