Petronet is well placed for more gains

With fresh triggers for gas demand and limited domestic availability, expect earnings momentum to stay healthy

The Petronet LNG stock, which had increased 47 per cent in the past year and more than doubled in the past two years, could see more gains. Reasonable prices of natural gas and rising gas demand continue to benefit Petronet, which imports liquefied natural gas (LNG) and re-gasifies it into saleable gas.  

The firm gas demand in India is seen growing further looking at the environmental concerns and many industrial fuels coming under regulatory spotlight. While some states have revoked ban on usage of petcoke, the hike in import duty on it is likely to force industrial players to switch