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Dec 31, 2012 11:38 AM IST | Source: Moneycontrol.com

Petronet LNG falls on Daiwa downgrade report

Shares of Petronet LNG fell 0.57 percent to Rs 158.15 on Monday on the Bombay Stock Exchange after the research firm Daiwa has downgraded the stock to outperform with a target price of Rs 175.

 
 
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Shares of Petronet LNG fell 0.57 percent to Rs 158.15 on Monday on the Bombay Stock Exchange after the research firm Daiwa has downgraded the stock to outperform with a target price of Rs 175.


According to report, the company's new liquefied natural gas regasification terminal at Kochi is likely to be commissioned by March next year, but Daiwa expects a slow ramp-up of LNG-processing volumes at this terminal."

The performance of the stock was not so good in the year so far. The stock declined nearly 1 percent in the year 2012 while in last fortnight, it was down more than 2 percent.

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