Edelweiss is bullish on Gujrat State Petronet has recommended buy rating on the stock with a target price of Rs 184 in its research report dated November 30, 2016.
Edelweis's research report on Gujrat State Petronet
GSPL transmits 20% of its volumes to Reliance Industries’ (RIL) Jamnagar refinery. With gradual commissioning of RIL’s petcoke gasification unit in FY18, we expect the company’s off-take to fall gradually. However, demand from city gas will more than offset the dip. We forecast 9%/17% EPS growth in FY17/18. On steady volumes and higher tariffs, we reiterate ‘BUY/SO’ with a DCF-based target price of INR 184.
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