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Gujarat Gas share price rises 7% as Macquarie raises target price to Rs 240

It increased FY21/22 earnings estimates by 13 percent and 15 percent, respectively. It also raised its FY21/22 EPS estimates by a similar amount on better margin and steady volumes

November 26, 2019 / 12:30 PM IST
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Shares of Gujarat Gas rose more than seven percent intraday on November 26 after Macquarie maintained its outperform rating. The research house also raised its target price on the counter to Rs 240 per share from Rs 210 earlier.

It increased FY21/22 earnings estimates by 13 percent and 15 percent, respectively. It also raised its FY21/22 EPS estimates by a similar amount on better margin and steady volumes.

At 12:06 hours, Gujarat Gas was quoting Rs 202.80, up Rs 11.70, or 6.12 percent, on the BSE.

The share touched a 52-week high of Rs 213.05 and 52-week low of Rs 116 on November 5 and February 27, respectively. Currently, it is trading at 4.95 percent below its 52-week high and 74.57 percent above its 52-week low.
Moneycontrol News
first published: Nov 26, 2019 12:30 pm

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