Petronet LNG shares rise 1.41 per cent in Wednesday’s trading session

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Shares of . rose 1.41 per cent to Rs 219.0 in Wednesday’s trade as of 10:30AM (IST) even as the benchmark Nifty ruled at 17580.3, down 75.3 points.

The scrip had closed at Rs 215.95 in the previous session. The stock quoted a 52-week low of Rs 190.3 and a high of Rs 243.0. The company quoted a market-cap of Rs 32827.5 crore on the BSE.

On BSE, 9,209 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 9.4 times its trailing 12-month EPS of Rs 23.29 per share and 2.13 times its book value. The return on equity (ROE) stood at Rs 25.15.

Key Financials

For the quarter ended 30-Jun-2022, Petronet LNG Ltd. reported consolidated sales of Rs 14388.0 crore, up 66.02 per cent from the same quarter a year ago. The company reported 8.18 per cent YoY growth in net profit at Rs 724.84 crore for the latest quarter.

Technical indicators

The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a “buy” or “sell” recommendation using a single valuation ratio.

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