Buy Gujarat Gas, target price Rs 354: ICICI Direct

ICICI Direct has given a buy rating to Gujarat Gas with a target price of Rs 354. The share price moved down by 1.12 per cent from its previous close of Rs 324.65. The stock’s last traded price is Rs 321.

Gujarat Gas Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 22097.32 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2559.91 Crore, up 136.39 % from last quarter Sales of Rs 1082.92 Crore and up 1.87 % from last year same quarter Sales of Rs 2512.91 Crore Company reported net profit after tax of Rs 474.79 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 60.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 9.1 per cent, DIIs 7.3 per cent and public and others 22.7 per cent.