Petronet LNG surges on plan to invest $600 million to expand Dahej Terminal

15 Dec 2011

Petronet LNG is currently trading at Rs 159.90, up by 1.45 points or 0.92% from its previous closing of Rs 158.45 on the BSE.

The scrip opened at Rs 157.00 and has touched a high and low of Rs 161.50 and Rs 156.40 respectively. So far 133909 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 185.85 on 24-Aug-2011 and a 52 week low of Rs 105.10 on 24-Feb-2011.

Last one week high and low of the scrip stood at Rs 161.50 and Rs 152.20 respectively. The current market cap of the company is Rs 11883.75 crore.

The promoters holding in the company stood at 50.00% while Institutions and Non-Institutions held 22.66% and 27.34% respectively.  

Petronet LNG is planning to invest $600 million to expand its terminal at Dahej in Gujarat by 50% to 15 million metric tonnes a year by December 2015. The company is seeking as much as 2 million tonnes a year of long-term LNG contracts for its under-construction terminal at Kochi in the south Indian state of Kerala.

Recently, the company received an approval for expansion of Dahej terminal from 10 million metric tonnes per annum (MMTPA) to 15 MMTPA. The board at its meeting held on December 12, 2011 approved the same.

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.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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