Buy Petronet LNG, target price Rs 347: Axis Securities

Petronet LNG Ltd. key Products/Revenue Segments include Liquified Natural Gas, Other Services and Other Operating Revenue for the year ending 31-Mar-2023.

By ETMarkets.com | Updated: Apr 15, 2024, 10.33 AM IST

Promoters held 50.0 per cent stake in the company as of 31-Dec-2023, while FIIs owned 26.82 per cent, DIIs 10.95 per cent.

Axis Securities has buy call on Petronet LNG with a target price of Rs 347. The current market price of Petronet LNG Ltd. is Rs 308.85.

Petronet LNG Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 46140.00 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-2023.

Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 14903.76 Crore, up 17.48 % from last quarter Total Income of Rs 12686.18 Crore and down -6.59 % from last year same quarter Total Income of Rs 15955.51 Crore. Company reported net profit after tax of Rs 1190.30 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 50.0 per cent stake in the company as of 31-Dec-2023, while FIIs owned 26.82 per cent, DIIs 10.95 per cent.

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