Buy Petronet LNG With Stop Loss Of Rs 115

Buy Petronet LNG With Stop Loss Of Rs 115Technical analyst Sanjay Surekha has maintained 'buy' rating on Petronet LNG Ltd stock with a target of Rs 140.

According to analyst, the investors can buy the stock with a stop loss of Rs 115.

Mr. Sanjay Surekha said that the stock will attain the said target within a period of three months.

Today, the stock of the company opened at Rs 118.80 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 129.75 and a low of Rs 68 on BSE.

Current EPS & P/E ratio stood at 5.64 and 21.05 respectively.

Petronet LNG Ltd has decided to increase its total capacity by two folds for the planned LNG workstation at Puthuvypu.

The workstation is likely to be licensed by March 2012.

Petronet LNG had already joined hands with a 1.5-tonne LNG supply deal with Exxon Mobil Australia and was making discussions with other suppliers of LNG.

Contracts would be accomplished before the workstation gets commissioned.

Government-owned gas dealer GAIL India and Petronet LNG Ltd are eyeing to buy equity stake in LNG projects in the Nigerian market to fasten supplies for the country's growing energy requirements.

Petroleum Minister Murli Deora talked about the likelihood of GAIL and Petronet buying stake in the $8-billion LNG project in Nigeria's Bayelsa state with Emmanuel O Egbogah, special adviser to Nigerian President. (IANS)