Buy Gujarat State Petronet, target price Rs 450: Motilal Oswal

Motilal Oswal has buy call on Gujarat State Petronet with a target price of Rs 450. The current market price of Gujarat State Petronet is Rs 373.3. Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 21115.61 Crore) operating in Gas & Petroleum sector.

Gujarat State Petronet Ltd. key Products/Revenue Segments include Income From Transportation Services, Electricity, Gas Natural and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 4586.63 Crore, up 2.93 % from last quarter Total Income of Rs 4455.94 Crore and up 13.54 % from last year same quarter Total Income of Rs 4039.75 Crore. Company reported net profit after tax of Rs 482.78 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 37.63 per cent stake in the company as of 31-Dec-2023, while FIIs owned 16.03 per cent, DIIs 24.71 per cent.