Petronet LNG shares rise 10 percent
By siliconindia   |   Thursday, 19 August 2010, 22:53 IST   |    1 Comments
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Petronet LNG shares rise 10 percent
Bangalore: Petronet LNG stock was among the top gainers after its price went up by nearly 10 percent. After opening the day at 103, the stock touched its 52 week high of 112.90, before closing trade at 102.15, with a gain of 9.64 percent. Through the day, 2948074 shares of Forbes were traded in the market, with the P/E ratio of 20.36. The 52 week stock price chart is on the left. Petronet LNG is engaged in the import and regasification of liquefied natural gas (LNG). The Company has an operating terminal located at Dahej, Gujarat. The Company was formed as a joint venture by the Government of India to import LNG and set up LNG terminals in the country. The promoters of the company include GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL). Petronet LNG posted a 3 percent fall in topline to 2525.97 crore and 8 percent rise in bottomline to 111.38 crore in quarter ended June 2010 compared to corresponding previous year quarter. Out of 22 analysts, following the stock, six are recommending to buy the stock and five are recommending to hold the stock. The consensus recommendation is to hold the stock.

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