Petronet LNG underperform, says Jal Irani

Jal Irani, Oil & Gas Analyst of Edelweiss Financial Services told CNBC-TV18, "We have an underperform rating on Petronet LNG and so essentially at the cost of reputation, this is an additional thing which has come out and Petronet LNG - gas imports into India are roughly two-fifths and Petronet LNG is significant listed importer which is running at a near 100 percent utilisation. Once domestic gas production increases - India is relatively gas rich - in the longer-term this 100 percent utilisation is at the risk of declining and to that extent in fact Petronet LNG would get impacted by this."At 11:53 hrs Petronet LNG was quoting at Rs 209.85, up Rs 5.25, or 2.57 percent.