BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains buy on Gujarat State Petronet
Religare in a note to its clients has recommended buying Gujarat State Petronet for target price of Rs 195. Religare has raised its DCF-based fair value for Gujarat State Petronet to Rs 195, valuing its pipeline business at Rs 176/share and its 25 per cent stake in Gujarat Gas at Rs 19/share. It adds that pipeline business valuation implies a price to equity multiple of 15 times FY19 estimated EPS, in line with gas utility peers. The company's earnings are not exposed to marketing margins and thus insulated from volatility.