PSU Stock Recommends Rs 3.00 Per Share Dividend, Motilal Oswal Assigns Call

Large cap PSU stock operating in the Gas & Petroleum sector, Petronet LNG Ltd on May 3, 2023 recommended final dividend of Rs 3.00 per share. The stock rallied 7% in last 6-months. Motilal Oswal recommended neutral rating on Petronet LNG with target price of Rs 210 per share in its research report dated March 27, 2023.

Today shares of Petronet slipped over 4% after it announced 18% YoY fall in standalone profit to Rs 614 crore for the January-March quarter due to weak operating numbers. Meanwhile, standalone revenue from operations announced at Rs 13,874 crore, up 24.3% over the corresponding quarter of the last fiscal. Check details below:

Petronet LNG Declares Dividend: According to the regulatory filing of the company, "The Board of Directors of the Company in its above said meeting has also, inter-alia, recommended final dividend of Rs. 3.00 (Rupees three only) per share (on the face value of Rs. 10/- each) on the equity shares of the Company for the financial year 2022-23."

Petronet LNG Stock Performance & Return: The current market price of Petronet LNG is Rs 225.40 per share with intraday fall of 4.79%. The stock's 52-week high price is quoted at Rs 242.25 per share and 52-week low price is Rs 195.50 per share, respectively. The company has a market capitalisation of Rs 33,825.00 crore.

The stock witnessed a jump 6% in last 1-year, declined 5% in last 2-years, and fell 2% in last 2-years. It jumped 8% in last 3-months.

Petronet LNG Valuation: According to Motilal Oswal, "The company currently trades at 11.9x FY25 EPS of INR18.7. We value the company at 11x FY25 EPS of INR19.1 to arrive at our TP of INR210 and reiterate our Neutral rating."

Petronet LNG About: Petronet LNG Limited (PLL) formed on April 2, 1998 as Joint Venture Company (JVC) having 50% shareholding of leading 4 Oil & Gas PSUs by GOI order dated July 4, 1997. An Independent Board managed JVC created for development of facilities for the import, storage and regasification of Liquefied Natural Gas, according to its official website.

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