Nomura has maintained its “Reduce” rating on Gujarat Gas with a target price of ₹470, suggesting a potential downside of 13% from the current market price (CMP) of ₹540.55. The brokerage highlighted that the company’s results were modestly below expectations. Despite this, Nomura reiterated the overall volume growth guidance for Gujarat Gas at approximately 7%, with unit EBITDA projected at ₹5-6 per standard cubic meter (scm).
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are advised to consult with a financial advisor before making any investment decisions.
