Petronet LNG inches up on re-structuring agreement with RasGas of Qatar

24 Dec 2018

Petronet LNG is currently trading at Rs. 224.05, up by 1.45 points or 0.65% from its previous closing of Rs. 222.60 on the BSE.

The scrip opened at Rs. 223.05 and has touched a high and low of Rs. 225.50 and Rs. 221.55 respectively. So far 40135 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 260.00 on 31-Jan-2018 and a 52 week low of Rs. 202.00 on 16-May-2018.

Last one week high and low of the scrip stood at Rs. 228.80 and Rs. 216.95 respectively. The current market cap of the company is Rs. 33660.00 crore.

The promoters holding in the company stood at 50.00%, while Institutions and Non-Institutions held 35.38% and 14.62% respectively.

Petronet LNG has re-structured binding sale and purchase agreement with RasGas of Qatar (LNG Supplier) for supply of an additional 1 MMTPA of LNG for onward sale to IOCL, BPCL, GAIL and GSPC.

At the request of the above four entities, direct arrangement between the LNG supplier and the Indian entities with effect from January 1, 2019 wherein Petronet will now continue to provide the storage, receiving and regasification services for the above mentioned contract but will not be the buyer of LNG.

Petronet LNG is one of the leading players in oil and natural gas industry space. The company's promoters are GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL).

Related Petronet LNG Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719