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Shares of Petronet LNG hit a record high in intra-day trade after Nomura analysts raised their price target to Rs 510 from Rs 425, with a buy rating.
Petronet LNG rose to a record high of Rs 441.30. At about 12.25 pm, the shares were up 3.86 per cent or Rs 16.30 at Rs 438.05.
"Our confidence continues in PLNG - India's key LNG importer - as a compelling story and safest name in our coverage,” Nomura says in a note.
The note said: "We see no risk to the company's ability to raise tariff by 5 per cent in near term."
Out of 38 analysts covering stock, 24 have a 'buy' or higher rating, six 'hold' while the rest have 'sell' or lower.
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