Exit Petronet LNG around Rs 168- 170: SP Tulsian

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Exit Petronet LNG around Rs 168- 170: SP Tulsian

Exit from Petronet LNG around Rs 168- 170, says SP Tulsian, sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Petronet LNG See messages about Petronet LNG

Exit from Petronet LNG around Rs 168- 170, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Petronet LNG, except for marketing margin I don't think there was any fear because if you see their Q1 and Q2 results they were good and in fact that has made the share to move to as high as Rs 180. In fact I am expecting Q3 results to be marginally better largely on spot LNG transactions on which they will be making profits. So probably that can make the stock to move to about Rs 168."

He further added, "If you see the fear of marketing margin, it has been receding and in fact Indraprastha Gas has seen good recovery because that was seen to be the worse affected and it has started moving from Rs 315, it has moved to Rs 335- 340. So probably Petronet LNG looks the strongest amongst the marketing margin fear. I think it should bounce back but one has to keep a caution that it cannot really move beyond Rs 170, so if it gives a gap up opening probably one should look to exit between Rs 168 and Rs 170."