Stock Advisory in Indore, Morgan Stanley revises gas distribution companies target price

Shares of domestic gas distribution companies were trading higher in Tuesday’s trade after global brokerage firm Morgan Stanley raised target price, citing that gas demand in India was on a growth path supported by benign prices and favorable policies. 


The financial services firm hiked target price of Petronet LNGBSE 1.22 % to Rs 306 from Rs 202 earlier. Shares of the company were trading 1.09 per cent up at Rs 236.65 in the afternoon trade around 12.30 pm (IST). Benchmark BSE Sensex was down 35 points, or 0.11 per cent, at 32,388.61 at around the same time. 

MS also increased target price of GailBSE 2.33 % (India) and Gujarat GasBSE -2.11 % to Rs 522 and Rs 1143 from Rs 246 and Rs 719 earlier. Shares of GAIL (India) Ltd advanced as much as 4.3 per cent to Rs 417.45 in Tuesday’s trade, highest since May 31. 

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