Results of Petronet LNG fired all the gas stocks: Ajay Srivastava

In a chat with ET Now, Ajay Srivastava, Dimensions Consulting Pvt Ltd, talks about gas utility stocks.

ET Now: Why are gas utility stocks are moving from strength to strength, names like GSPL, Gujarat Gas, IGL?

Ajay Srivastava: The trigger was if you look at the results of Petronet LNG actually, that was a trigger which started this whole rally and that has been a spectacular much beyond expectation result. The average realisation has been much higher. The volumes have gone up, so the results of Petronet LNG fired all the gas stocks in the universe today. It was said that if this valuation has gone up relative to that valuation, every stock moves and that’s why the industry moves, so everybody has moved up in tandem, so trigger was the Petronet LNG results.