Buy Petronet LNG, target price Rs 230: Kotak Securities

Kotak Securities has buy call on Petronet LNG Ltd. with a target price of Rs 230. The current market price of Petronet LNG Ltd. is Rs 221.25. Time period given by analyst is Intra Day when Petronet LNG Ltd. price can reach defined target. .

Petronet LNG Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 33202.50 Crore) operating in Gas & Petroleum sector.

Petronet LNG Ltd. key Products/Revenue Segments include Liquified Natural Gas, Other Services and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 10888.95 Crore, up 25.64 % from last quarter Total Income of Rs 8666.47 Crore and up 70.74 % from last year same quarter Total Income of Rs 6377.66 Crore. Company reported net profit after tax of Rs 817.12 Crore in latest quarter.

Investment Rationale
Trading in an Ascending triangle and breakout from the resistance zone is very likely in the near term.

Promoter/FII Holdings
Promoters held 50.0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 32.13 per cent, DIIs 4.65 per cent.