Buy or Sell | Market to move higher; GSPL can give 18% upside
- 5 years ago
Nifty has gone up by 10670 levels to 11570 odd levels, an upside of 8.4%. The indices that did well were Auto and Banks. The index that did not do well was IT which was down by 1.35%. We expect the market to trade higher with some amount of consolidation.
We have a buy on Gujarat State Petronet, with a target of Rs 253. The company has been doing well in terms of gas transmission. Volume has been up by 17.9% QoQ and 4.4% YoY. Net profit is up 50% QoQ as well as YoY. There is significant amount of integration that the company is enjoying. Refining contributes about 35% and gas distribution contributes about 27%. IT trades about 11x while the industry is trading at about 14.75x. We expect rerating in GSPL stock, said Dinesh Rohira, CEO & Founder 5nance.com.
We have a buy on Gujarat State Petronet, with a target of Rs 253. The company has been doing well in terms of gas transmission. Volume has been up by 17.9% QoQ and 4.4% YoY. Net profit is up 50% QoQ as well as YoY. There is significant amount of integration that the company is enjoying. Refining contributes about 35% and gas distribution contributes about 27%. IT trades about 11x while the industry is trading at about 14.75x. We expect rerating in GSPL stock, said Dinesh Rohira, CEO & Founder 5nance.com.