Petronet LNG hits record high; Nomura raises price target

Reuters | Updated on January 15, 2018 Published on April 12, 2017

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.

Published on April 12, 2017
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