Buy Gujarat Gas, target of Rs 340: Angel Broking
Angel Broking has maintained its buy rating on Gujarat Gas Company with a target price of Rs 340 in its February 27, 2009 research report. Gujarat Gas reported Top-line de-growth of 4.3% yoy to Rs 330.9 crore (Rs 345.9 crore) primarily due to lower gas distribution volumes to small and mid-sized industrial units, which was impacted by lower gas availability. However, the CNG Segment posted 30% yoy growth. Gas distribution volumes during the quarter stood at 250.0mmscm (328.0mmscm), which was much lower than our expectation of 264.5mmscm.”
“Average realisations in crore eased 24.5% yoy to Rs 12.8/scm (Rs 10.3/scm). However, sequentially realisations in crore eased by 5.2% yoy to Rs 12.8/scm (Rs 12.2/scm) as the company’s contract with most of its customers allowed it to pass through the in crore ease in gas cost due to Rupee depreciation. We maintain a Buy on the stock, with a target price of Rs 340,” says Angel Broking’s research report.
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
