Intra Day Buy Call For Petronet LNG

Petronet LNGTechnical analyst Salil Sharma has maintained 'buy' rating on Petronet LNG Limited stock with a target of Rs 131.

According to analyst, the investors can purchase the stock with a stop loss of Rs 125.

The stock of the company, on January 28, closed at Rs 126.50 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 18.16 respectively.

Petronet LNG Ltd, India's biggest importer of LNG, registered a net profit of around Rs 171 crore in the three month period ended December 31, 2010 owing to higher gas imports.

Net profit during the quarter under review remained at Rs 170.84 crore as against Rs 83.21 crore million for the same quarter ended December 2009.

Total income of the company surged to Rs 3633.05 crore as compared to 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," the company said in a declaration.

The company obtained 1.1 million tonnes of LNG.

The company's board also sanctioned doubling up of capacitance of the under construction Kochi import workstation to 5 million tonnes annually.

The 2.5 million tonnes terminal is expected to be accredited by 2010.

"The work order for the (expansion) is expected to be awarded shortly and the terminal is expected to be commissioned by 3rd quarter of financial year 2012-13," the statement added.