Buy Petronet LNG After Result: Brokerages

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Buy Petronet LNG After Result: Brokerages

By Aditya Raghunath

Investing.com -- Petronet LNG Ltd (NS: PLNG ) reported its results for the fourth quarter of FY21 ended March 31, 2021. Revenue declined 11.6% from the corresponding quarter last fiscal to Rs 7,575 crore while profit after tax was up 73.6% to Rs 623.4 crore.

Brokerages said that profit was below expectations but have still maintained a buy on the stock. ICICI Securities Ltd (NS: ICCI ), in a note, said, “Petronet LNG reported numbers for Q4FY21 that were largely in line with estimates on the operating front. However, profitability was lower due to a dip in other income.”

CLSA said that profit was 21% lower than its estimates. It said that Petronet LNG is close to its bear case valuation and is one of the most attractive stocks on the exchanges. It has retained its buy call on the stock with a target of Rs 270.

Credit Suisse (SIX: CSGN ) has also recommended a buy on the stock with a price target of Rs 270. It said that the next phase of high capex will start but the stock is at an attractive valuation right now.

Citi has a neutral rating on the stock and has lowered its target price from Rs 325 to Rs 260.

Motilal Oswal Financial Services Ltd (NS: MOFS ) is the most optimistic of the brokerages with a target of Rs 310 on the stock, an upside of almost 34% from the stock’s June 10 closing price of Rs 232.55.

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  • Nimish Patil @Nimish Patil
    Brokerages only want to trap poor retail investors in slow moving stocks like Petronet, ITC, ONGC etc by giving very high targets which seem to be achievable only in next 5 years or so....
    Like 14
    • SAMIR RANA @SAMIR RANA
      which share give good profit for bignner
      Like 0
    • Nimish Patil @Nimish Patil
      Buy strong FMCG stocks like HUL, Britannia etc
      Like 0
    • Nimish Patil @Nimish Patil
      @SAMIR RANA Buy strong FMCG stocks like HUL, Britannia etc
      Like 0
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  • Nimish Patil @Nimish Patil
    These Sarkari comapny stocks are extremely, extremely slow....Nifty and Sensex at all time highs and this stock is trading 20% down than all time highs.....
    Like 5
  • Rajesh Pathak @Rajesh Pathak
    I have so much done loss in my life this time my financial condition so bad, please help to improve my minimum 5000 get earn 50000 how? Please suggest me.
    Like 0
    • Bharat Singh @Bharat Singh
      Okay invest in jublingrevia and wait for one month.
      Like 0
    • Sandeep Tiwari @Sandeep Tiwari
      buy prakash industry
      Like 0
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