Buy Gujarat State Petronet; target of Rs 360: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on Gujarat State Petronet

Gujarat State Petronet (GSPL) is a gas utility company with its transmission network and investment in CGD companies.It operates a 2700-km transmission network in Gujarat as of March 2021 Major portion of gas flowing through its network is contributed by CGD and refining/petchem companies

Outlook

We maintain our BUY rating on the stock We value GSPL’s transmission business at ~Rs 185/share. At the CMP, GSPL’s investments in its listed CGD entity Gujarat Gas (54.1% stake) and unlisted Sabarmati Gas, is trading at ~74% discount. We value its investments at ~Rs 175/share at 60% discount to arrive at a target price of Rs 360/share.

More Info on Trent

At 12:53 hrs Gujarat State Petronet was quoting at Rs 287.10, up Rs 0.55, or 0.19 percent.

It has touched an intraday high of Rs 290.00 and an intraday low of Rs 278.20.

It was trading with volumes of 44,709 shares, compared to its thirty day average of 64,449 shares, a decrease of -30.63 percent.

In the previous trading session, the share closed down 3.70 percent or Rs 11.00 at Rs 286.55.

The share touched its 52-week high Rs 378.90 and 52-week low Rs 227.40 on 20 August, 2021 and 15 February, 2021, respectively.

Currently, it is trading 24.23 percent below its 52-week high and 26.25 percent above its 52-week low.

Market capitalisation stands at Rs 16,198.51 crore.

For all recommendations report, click here

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