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Petronet LNG surges on the buzz of plan to foray into retail sales of LNG

07 Dec 2016

Petronet LNG is currently trading at Rs. 390.80, up by 7.75 points or 2.02% from its previous closing of Rs. 383.05 on the BSE.

The scrip opened at Rs. 390.00 and has touched a high and low of Rs. 394.00 and Rs. 387.00 respectively. So far 82933 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 410.85 on 17-Oct-2016 and a 52 week low of Rs. 230.00 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 396.90 and Rs. 371.00 respectively. The current market cap of the company is Rs. 29325.00 crore.

The promoters holding in the company stood at 50.00%, while institutions and non-institutions held 37.67% and 12.33% respectively.

Petronet LNG, one of the leading oil and gas producers in the country, is reportedly planning to enter into retail sales of liquefied natural gas (LNG) through fuel outlets across the country. The company is in talks with oil marketing companies (OMCs) like IOC, HPCL and BPCL to use their retail outlets to sell LNG at least at 1000 retail outlets across the country within the next three years. This may include sharing of the facilities by OMCs through installing LNG dispensers and also running outlets operated by Petronet.

Petronet LNG is one of the leading players in oil and natural gas industry space. It has India’s first and largest LNG supply terminal located at Dahej. The company has reported 81.72% rise in its net profit at Rs 459.56 crore for the quarter ended September 30, 2016 as compared to Rs 252.90 crore for the same quarter in the previous year.

Related Petronet LNG Ltd. Links:

Petronet LNG Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323