Gujarat Gas' acquisition of Gujarat State Petronet for $3 billion was the third-largest acquisition in the country
Brokerages see an upside of up to 23 per cent in Gujarat Gas stock as they believe that the restructuring of these Gujarat companies will simplify the existing layered structure.
Gujarat Gas, GSPL, MGL, IGL and Petronet LNG: Trading strategies for gas-related stocks as Gujarat Gas announces biz restructuring plan. Find out which stock look stronger on charts here.
In general stocks trading above the key moving averages such as the 20-, 50-, 100- and 200-DMAs are considered trading with a bullish bias and vice versa.
Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts.
Markets edged higher as expected, gaining over half a percent. After a flat start, the Nifty gradually climbed throughout the session and closed near the day's high at 23,868.80
Stocks to watch on November 3, 2023: Atul's board meeting will be held on November 07 to consider a buyback proposal
Standalone net profit after tax fell to 2.98 billion rupees ($35.82 million) in the three months ended Sept. 30 from 4.04 billion rupees a year earlier
Stocks to watch on October 30, 2023: Fincare Small Finance Bank is set to merge with AU Small Finance Bank (AU SFB) in an all-share deal; Gujarat Gas has hiked industrial gas price to Rs 45.6 per scm
Stocks to Watch on August 21, 2023: Jio Financial Services will be listed on the exchanges today. Experts believe the stock could top the Rs 300-mark on listing
The company's long-term volume growth prospects remain robust with the addition of new industrial units, and expansion of existing units, said Motilal Oswal Financial Services
The proposed domestic gas pricing formula by Kirit Parikh panel will likely provide headroom to CGDs to reduce prices and improve margins, but this may hurt producers like ONGC, Oil India, experts say
Shares of gas distribution companies have being in focus on expectations of rise in demand, coupled with a favourable outcome from the Kirit Parikh report.
Analysts expects overall gas demand from the CNG and DPNG sectors to grow at 15.7 per cent CAGR over FY22-27 supported by aggressive expansion in infrastructure.
GAIL has come under pressure since it is not receiving contracted liquefied natural gas (LNG) cargoes and it is being forced to buy LNG at much higher prices
Analysts have lowered their earnings estimates, but have 'buy' recommendations for several stocks
The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.
At 10:00 am; CGD stocks were up in the range of 4 per cent to 7 per cent, as compared to 0.43 per cent decline in the S&P BSE Sensex.
Stocks to Watch Today: The primary market too is likely to be abuzz with activity with three IPOs namely - Delhivery, Prudent Corporate Advisory Services IPO and Venus Pipes IPO open for subscription.
For whole of FY22, the firm's consolidated net profit rise by only 1% to Rs 1287.37 crore