India's Gujarat Gas gains after quarterly profit rise

Gujarat Energy

21/01/2026 04:51

** Shares of Gujarat Gas GGAS.NS rise as much as 2.8% to 405.65 rupees, last up 2%

** Co's Q3 profit rises 20% year on year to 2.67 billion rupees despite a dip in revenue

** JP Morgan says gas price environment is favorable for GGAS, but expect little improvement in the company's volume outlook as the subdued volume environment weighs on margins

** Morgan Stanley says gas competitiveness should get incrementally more favourable as LNG supply increases from the U.S.; sees positive triggers lined up for GGAS, with new global gas supply as co has relatively higher exposure to LNG

** Co on avg rated "hold" by 29 anlaysts; median PT at 432.50 rupees- according to data compiled by LSEG

** GGAS fell 17.3% in 2025

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))