Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Hold Petronet LNG with target of Rs 150

2 min read

Script : Petronet LNG
CMP : RS 81.20 (as on 3 Oct 2007 )
Target Predicted by MarketCalls is Rs 250
Potential Upside : More than 300%
Target Period : 1 Year
Target Predictions from Firstcall India : Rs 150
Potential Upside : 90% Approx
 
VVLN Sastry of Firstcall India Equity Advisors expects the price of around Rs 150 for Petrpnet LNG. One can definitely hold on to this counter with a target of around Rs 150.

Sastry told CNBC-TV18, “Post third quarter of last year, Petronet LNG has turned around fabulously and it has been showing tremendously good amount of good growth rates. In the recent past also the company has tied-up with RasGas of Qatar for supply of around 1.25 MMT capacity of supplies.”

He further added, “The company has shown a good gesture of giving dividend too. Going forward, I feel the company will be able to maintain a growth rate of 50% in terms of topline that’s quite good. On forward earnings multiple, it is quoting at a multiple of around 13. So I expect the price of around Rs 150 for this counter. One can definitely hold on to this counter with a target of around Rs 150 in mind.”
 
Past Results
 

   
Result (Rs cr) Jun-07 Mar-07 Dec-06 Sep-06 Jun-06
Interest Earned 1551.02 1538.83 1575.96 1375.09 1019.08
Operating Income 0.00 0.00 0.00 0.00 0.00
Other Income 11.59 14.84 8.77 7.70 5.29
Total Income 1562.61 1553.67 1584.73 1382.78 1024.37
Interest Expanded -25.67 -25.89 -27.60 -26.93 -26.62
Operating Expenses -1346.11 -1339.70 -1402.63 -1230.35 -888.22
Operating Profit 190.83 188.08 154.49 125.51 109.53
Depreciation -25.40 -25.18 -25.72 -25.72 -25.41
Profit before Tax 165.43 162.90 128.77 99.
79
84.12
Tax -57.40 -56.87 -43.67 -33.75 -28.04
Profit after Tax 108.03 106.03 85.10 66.04 56.08
Net Profit 108.03 106.03 85.10 66.04 56.08
Equity Capital 750.00 750.00 750.00 750.00 750.00
 
 
 
Technical Charts
 
Target 150
 
 
Recent News about Petronet
 
 

Petronet in deal with Exxon for Gorgon LNG

OCT 1 2007

NEW DELHI (Reuters) – Gas importer Petronet LNG Ltd has signed a draft agreement with Exxon Mobil Corp to buy liquefied natural gas from Australia's Gorgon project, Petronet's chief executive said on Monday.

Prosad Dasgupta, who is also Petronet's managing director, said the two companies agreed early last month on all details but pricing, and the deal should cover purchases of 2.5 million tonnes of LNG a year for a period of 25 years.

"We are meeting them in November to discuss pricing and then in January … Preferably by June 30, 2008, we hope to finalise the deal," Dasgupta told Reuters.

Chevron Corp holds a 50 percent stake in the project, while Exxon and Royal Dutch Shell Plc each have 25 percent.

The supply of gas from Gorgon is expected to begin from the end of 2012, Dasgupta said.

He said the LNG would be regasified at the firm's 5 million tonnes a year Kochi terminal in Kerala, expected to be commissioned by mid-2011.

Petronet has been seeking LNG to secure energy supplies as demand grows in Asia's third largest consumer.

It is also talking to Chevron about buying LNG from its share of gas from Gorgon.

Dasgupta said that delays in awarding Gorgon environmental clearance had invalidated earlier agreements between operators and prospective customers, opening the door for Petronet.

On Se
pt. 7, Chevron finally won environmental approval for the project from the government of Western Australia and said key Japanese customers could take minority stakes.

They include Tokyo Gas, Chubu Electric Power and Osaka Gas.

Besides buying from the spot markets, Petronet recently signed a deal to buy 1.25 million tonnes of LNG from RasGas of Qatar before the end of March 2008 with an option to extend.

RasGas is also supplying India with 5 million tonnes a year of LNG under a long-term contract and the quantity will be raised to 7.5 million tonnes a year from 2009.

 

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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0 Replies to “Hold Petronet LNG with target of Rs 150”

  1. Yen Carry Trade can Happen…If it happens due to weak asian market sentiment once again you can see this stock at 102 or 105 kind of levels.It will give investors to buy.If there is no yen carry trade then Immediate target of 127

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