COMPANY NAME- PETRONET LNG LTD.
04 –JAN -2011.
RECOMMENDATION- BUY PRICE TARGET-
145
COMPANY BASIC INFORMATION
|
ISIN Id
|
INE347G01014
|
|
BSE Id
|
532522
|
|
NSE Id
|
PETRONET
|
|
INDUSTRY
|
Oil Drilling And Exploration
|
|
Market Cap
|
9506.25
|
|
Book Value
|
29.80
|
|
EPS (TTM)
|
5.64
|
|
Price/Book
|
4.25
|
|
Face Value
|
10.00
|
|
P/E
|
22.47
|
|
Div(%)
|
17.50%
|
|
Industry P/E
|
17.28
|
|
P/C
|
16.29
|
|
Div Yield (%)
|
1.38
|
Recommendation-
The stock is trading near its all time highs and is forming some continuation
price patterns. The minor trend of
the counter is also showing a shift from downtrend to uptrend. On the daily
chart an inverted head and shoulder price pattern is under formation. On the
other side the volumes are suggesting an accumulation around current levels. The
RSI and the MACD are also giving positive divergences. We expect the stock to
continue in uptrend from current levels and make a new high very soon. We
therefore recommend a Buy on the stock @ 125 with closing stop loss below 120
for a very short term target of145.