Buy Gujarat Gas, target price Rs 710: Yes Securities

Yes Securities has buy call on Gujarat Gas with a target price of Rs 710. The current market price of Gujarat Gas Ltd. is Rs 663.8. Time period given by analyst is Intra Day when Gujarat Gas Ltd. price can reach defined target.

Gujarat Gas Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 45712.55 Crore) operating in Gas & Petroleum sector.

Gujarat Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company has reported a Consolidated Total Income of Rs 5276.48 Crore, up 42.41 % from last quarter Total Income of Rs 3705.11 Crore and up 81.61 % from last year same quarter Total Income of Rs 2905.32 Crore. Company has reported net profit after tax of Rs 121.97 Crore in latest quarter.


Investment Rationale
After losing 15% from last month’s high, the stock has regained momentum on the upside.

Promoter/FII Holdings
Promoters held 60.89 per cent stake in the company as of 31-Dec-2021, while FIIs owned 7.72 per cent, DIIs 8.03 per cent.