Sell Petronet LNG, target price Rs 200: IIFL

IIFL has sell call on Petronet LNG with a target price of Rs 200. The current market price of Petronet LNG Ltd. is Rs 207.95.

Petronet LNG Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 31297.50 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-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 14388.00 Crore, up 27.99 % from last quarter Total Income of Rs 11241.74 Crore and up 66.02 % from last year same quarter Total Income of Rs 8666.47 Crore. Company reported net profit after tax of Rs 683.01 Crore in latest quarter.

Investment Rationale
The stock has given an inverted cup and handle breakdown.

Promoter/FII Holdings
Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 34.83 per cent, DIIs 2.94 per cent.