Buy Gujarat State Petronet, target price Rs 400: ICICI Securities

ICICI Securities has buy call on Gujarat State Petronet with a target price of Rs 400. The current market price of Gujarat State Petronet Ltd. is Rs 270.9.

Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 14886.72 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 30-09-2022, the company reported a Consolidated Total Income of Rs 4467.79 Crore, down -19.62 % from last quarter Total Income of Rs 5558.32 Crore and up 6.84 % from last year same quarter Total Income of Rs 4181.81 Crore. Company reported net profit after tax of Rs 621.82 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.