Turning Bullish: Petronet LNG
Intro:
Petronet LNG Ltd. designs, constructs, and operates Liquefied Natural Gas (LNG) Import and regasification terminals in India. It was incorporated in 1998 as a Joint Venture among GAIL, Indian Oil, Bharat Petroleum and ONGC holding 12.5% each.LNG Petronet accounts for 33% of gas supplies in the country and handles around 75% of LNG imports in India.
Stock Fundamentals:
Stock P/E: 13.5 (Ind. P/E:21); Book Value: ₹ 113; Dividend Yield: 2.90 %; ROCE: 26.4 %;
ROE: 22.2 %; OPM (Quarterly) %: 12% (Jun 2024) marginally higher than Mar 2024 (8%).
OPM (yearly): 10%
Stock Technicals:
LNG Petronet Turned bullish recently.
It bounced sharply from 325 levels with good volume.
20EMA just crossed above 50 EMA.
Support levels: 340, 319, 299
Resistance levels: 364, 371, 385
Petronet LNG Ltd. designs, constructs, and operates Liquefied Natural Gas (LNG) Import and regasification terminals in India. It was incorporated in 1998 as a Joint Venture among GAIL, Indian Oil, Bharat Petroleum and ONGC holding 12.5% each.LNG Petronet accounts for 33% of gas supplies in the country and handles around 75% of LNG imports in India.
Stock Fundamentals:
Stock P/E: 13.5 (Ind. P/E:21); Book Value: ₹ 113; Dividend Yield: 2.90 %; ROCE: 26.4 %;
ROE: 22.2 %; OPM (Quarterly) %: 12% (Jun 2024) marginally higher than Mar 2024 (8%).
OPM (yearly): 10%
Stock Technicals:
LNG Petronet Turned bullish recently.
It bounced sharply from 325 levels with good volume.
20EMA just crossed above 50 EMA.
Support levels: 340, 319, 299
Resistance levels: 364, 371, 385
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