India's Petronet jumps after confirming Qatar LNG supply talks, results

Petronet LNG

30/01/2024 07:21

** Shares of Petronet LNG Ltd  PLNG.NS  rise as much as 8.2%
to a record 284.55 rupees after confirming it is in talks with
Qatar for long-term LNG deal
    ** Stock currently up 3.3% at 256.6 rupees
    ** LNG importer's Q3 profit rose 45% q/q but was flat y/y,
rev up 18% q/q
    ** Co's shares jumped last week after Reuters' exclusive
report on deal talks
    ** Around 29.5 mln shares traded, 4.6x the 30-day avg volume
    ** Thirty analysts covering stock rate it "hold" on avg;
with three analysts downgrading their rating after results -
LSEG data
    ** Stock up more than 22% in January, set for best monthly
rise since July 2011


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))