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    Sell Petronet LNG, target price Rs 200: IIFL

    Synopsis

    Petronet LNG Ltd. key Products/Revenue Segments include Liquified Natural Gas, Other Services and Other Operating Revenue for the year ending 31-Mar-2022.

    Petronet LNGiStock
    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.
    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.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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