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

ICICI Direct is bullish on Gujarat State Petronet recommended buy rating on the stock with a target price of Rs 360 in its research report dated June 04, 2021.

June 08, 2021 / 06:35 PM IST
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ICICI Direct's research report on Gujarat State Petronet

Gujarat State Petronet’s (GSPL) operating revenue for Q4FY21 fell 21.9% YoY to Rs 485 crore on account of decline in transmission volume. Gas transmission volumes dipped 8% YoY to 33.8 mmscmd mainly owing to reduced offtake from power and refineries sector. EBITDA came in at Rs 344.2 crore, down 3.2% YoY as decline was limited due to lower other expenses. Subsequently, reported PAT was at Rs 206.3 crore, down 8.6% YoY.


Hence, we maintain BUY and arrive at a target price of Rs 360/share (earlier Rs 285).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jun 8, 2021 07:31 am

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