Buy Gujarat State Petronet; target of Rs 180: ICICI Direct

ICICI Direct is bullish on Gujarat State Petronet has recommended buy rating on the stock with a target price of Rs 180 in its research report dated February 07, 2017.

February 09, 2017 / 17:19 IST

26 Aug, 2025 12:21

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ICICI Direct's research report on Gujarat State Petronet

Gujarat State Petronet (GSPL) reported its Q3FY17 result, which were largely in line with our estimates. GSPL reported 7.5% YoY growth in revenues at Rs 266.8 crore (our estimate of Rs 264.9 crore). While gas transmission volumes increased 4.6% YoY to 26.2 mmscmd (our estimate: 24.3 mmscmd), realisations stayed flat YoY at Rs 1.1/scm (our estimate: Rs 1.1/scm).

OutlookGSPL investments in CGD entities like Gujarat Gas (25.8% stake) and Sabarmati Gas (27.5%) would also create value for investors in future. We value GSPL investments at Rs 34.1/share. Subsequently, we have valued GSPL based on an SOTP basis and arrived at a target price of Rs 180.

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first published: Feb 9, 2017 05:19 pm

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