Investec has upgraded its ratings on Gujarat State Petronet (GSPL) and Mahanagar Gas (MGL), citing a buying opportunity amid recent corrections in gas stocks.
Key Takeaways from Investec’s Report on Gas:
- Gujarat State Petronet upgraded to Buy from Hold, with a target price of ₹465.
- Mahanagar Gas upgraded to Buy from Hold, with a target price of ₹1,600.
- The new US LNG sign-up is seen as a necessity rather than a concern.
- India-US LNG contracts should not be viewed negatively, as they are essential for energy security.
- Recent corrections in gas stocks present a buying opportunity for investors.
- Preferred gas sector picks include Petronet LNG, GAIL, GSPL, Gujarat Gas, IGL, and MGL.
Investec remains positive on India’s gas sector, highlighting structural demand growth and regulatory support. The firm sees long-term value in select gas stocks despite recent market fluctuations.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Please consult with a financial expert before making any investment decisions.
