Petronet LNG Short Term Buy Call

Petronet LNG Short Term Buy CallTechnical analyst Sanjay Surekha has maintained 'buy' rating on Petronet LNG Limited stock with a short term target of Rs 145.

According to analyst, the stock can be purchased with a stop loss of Rs 115.

The stock of the company, on February 04, marked its closure at Rs 126.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 136 and a low of Rs 70 on BSE.

Current EPS & P/E ratio stood at 6.81 and 18.51 respectively.

Country's Petronet LNG has inked agreements to source 1.1 million tonnes of LNG on a yearly basis for the coming two fiscals in order to meet up the rising energy demand in Asia's third biggest economic system.

Petronet's head of finance A. Sengupta stated, "We are sourcing LNG from various suppliers in small quantities. These volumes are on top of 7.5 million tonne per year LNG that we get from RasGas."

The company said that its net profit for October-December period increased to Rs 170.84 crore from Rs 83.21 crore million during the same period of last year.

Company's total income surged to Rs 3633.05 crore in Oct-Dec 2010 from Rs 2261.31 crore in Q3 2009.

"During the quarter ended December 31, 2010, the company has achieved highest ever (gas) send out of 120 trillion British thermal units," thecompany said.