Sunday, August 21, 2011
WHAT IS HOT IN PETRONET LNG STOCK???
I dont know how many of u are aware of this good company as a multi bagger stock.I have been watching this stock for last one year while it has been in news at kochi terminal in our kerala.At that time it is trading at cheap rate around Rs.70.Now stock is at 170 levels.
Petronet LNG is at the forefront of India's all-out national drive to ensure the country's energy security in the years to come.
Formed as a Joint Venture by the Government of India to import LNG and set up LNG terminals in the country, it involves India's leading oil and natural gas industry players. Our promoters are GAIL (India) Limited (GAIL), Oil & Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). The authorized capital is Rs. 1,200 crore ($240 million).
Oil and Natural Gas Corporation Limited
The public sector giant ONGC is spearheading India's aggressive hunt for crude oil, natural gas and other energy sources. Established in 1956 as the Oil and Natural Gas Commission, it was corporatized as Oil and Natural Gas Corporation Limited on February 1, 1994. Today ONGC, which is fast emerging as an integrated energy transnational, is responsible for the exploration, production and transportation of unprocessed hydrocarbons and accounts for more than 90% of India's oil and gas output (mostly in the Western Offshore Region).
Indian Oil Corporation Limited (IOCL)
Public sector undertaking IOCL is India's largest commercial enterprise and has established itself as a regular both in the Fortune magazine's Global 500 listing of the world's largest corporations and Forbes magazine's International 500 list of largest companies outside the USA.
Bharat Petroleum Corporation Limited (BPCL)
One of India's top national oil marketing companies (OMCs), BPCL was formed in 1976 through nationalisation of the the Burmah Shell Oil Storage & Distribution Company of India. With sales of 19.35 million tonnes and a market share of 21.43%, BPCL is today the second largest oil marketing company in the country.
GAIL (India) Limited
The public sector company GAIL is responsible for the transportation, distribution, processing and marketing of natural gas in India.
SO I WOULD LIKE TO BUY THE STOCK AT CURRENT LEVELS OF 170 RATE ALTHOUGH IT IS AT YEAR HIGH,FOR A SHORT TERM TARGET OF 240