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Petronet LNG hits record high

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LNG Industry,

Reuters are reporting that Petronet LNG Limited's shares have risen by as much as 3.4% to a record high of 436 rupees a share.

Nomura analysts have raised Petronet to 510 rupees from 425 rupees, with a ‘buy’ rating.

"Our confidence continues in PLNG – India's key LNG importer – as a compelling story and safest name in our coverage," Nomura announced.

The analyst sees no risk in the company's ability to raise tariff by 5% in the near term.

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