Buy Gujarat State Petronet, target price Rs 383: ICICI Securities

ICICI Securities has buy call on Gujarat State Petronet Ltd. with a target price of Rs 383. The current market price of Gujarat State Petronet is Rs 233.95.

Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 13137.66 Crore) operating in Gas & Petroleum sector.

Gujarat State Petronet Ltd. key Products/Revenue Segments include Income From Transportation Services, Electricity and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 5558.32 Crore, up 10.87 % from last quarter Total Income of Rs 5013.28 Crore and up 61.15 % from last year same quarter Total Income of Rs 3449.24 Crore. Company reported net profit after tax of Rs 616.18 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 37.63 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.54 per cent, DIIs 24.19 per cent.