Shares of Gujarat State Petronet Corporation Ltd (GSPL) climbed over 4% on Thursday, extending gains to the third session. The stock was trading near 52-week highs on Wednesday and has rallied about 85% since March 2020 lows.
The company, with a presence across the oil & gas value chain predominantly, also has interests in the regasification of LNG (Liquified Natural Gas) transmission and distribution of gas. GSPL is also the parent company of city gas distributor, Gujarat Gas Limited. With strong demand for gas , the company’s outlook remains firm.
GSPL’s earnings before interest, tax, depreciation and amortisation (Ebitda) grew 11% year-on-year over the last 5 years, say analysts. This has been despite the low average implied tariff of ₹1,215 during the period versus ₹1,240, reported in 3QFY21.
