India's Gujarat Energy falls after Morgan Stanley downgrades on competition risks
26/08/2026 05:23
BUZZ-India's Gujarat Energy falls after Morgan Stanley downgrades on competition risks ** Shares of India's Gujarat Energy GJAA.NS fall 1.26% to 253.25 rupees, on track for fourth session of losses
** Morgan Stanley double-downgrades stock to "underweight" from "overweight", cuts TP to 246 rupees from 523 rupees
** Brokerage flags higher exposure to costly spot LNG, competition from alternative fuels and low utilisation of downstream gas assets
** Says tight global LNG markets in H2CY26 could keep gas costs elevated and margins vulnerable, while cheaper alternative fuels could weigh on core gas retail business
** Adds risk-reward remains unattractive despite inexpensive valuation
** YTD stock down 27.8%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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