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Market buzz that US-based Chevron Corporation, the oil and gas exploration major, is looking at picking up a substantial stake in Petronet LNG, has led to increased trading in the company's stock for the past few days. The stock, which has risen 7.49 per cent over the month, saw 14.6 lakh shares changing hands on the BSE and 39.71 lakh shares on the NSE.

Analysts said Chevron is likely to buy the stake at a price which is substantially higher than the current market price of Rs 54.55 on the BSE.

The company officials did not confirm the news. However, the company is in talks with a few foreign partners interested in picking up a stake, said a company official.

Namrata Gada

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