Petronet LNG a market performer: Karvy

Karvy Stock Broking rated Petronet LNG as a market performer with a price traget of Rs 68 in its report dated August 12, 2009.

"As has been observed in the past in the case of LNG supplies to the erstwhile Dabhol power project (Ratnagiri power project), the government could intervene in the pricing of the gas and force Petronet LNG to sell it at a lower price to the companies engaged in businesses of strategic importance for the country such as power, fertilizer etc. As long as the pricing details are not disclosed, we would not like to revisit our target price of Rs 68 on the stock. We rate the stock as Marketperformer," says Karvy Stock Broking's report.