Maharatna PSU oil and gas companies such as GAIL, BPCL, Indian Oil and ONGC-backed one joint venture engaged in the business of LNG/CNG/PNG, is recommended to buy from global brokerages like Nomura and Nuvama. This LNG stock is currently around Rs 365, and has surged by nearly 62% YTD on BSE. On July 25, the LNG stock touched a new 52-week high as well. The latest bullish trend is due to the company's Q1 results.
The LNG stock is none other than leading natural gas supplier, Petronet LNG. Here's what brokerages said:
Nuvama: Maintain Buy on Company, raise target price at Rs 412/Sh (Positive)
Nomura: Upgrade to Buy on Company, raise target price at Rs 405/Sh (Positive).
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