India's Petronet LNG rises after inking deal with ONGC

Petronet LNG

04/12/2025 04:25

** Shares of Petronet LNG Ltd PLNG.NS rise 3.3% to 277.70 rupees
** Co enters into 15-years ethane unloading, storage and handling services deal with Oil and Natural Gas Corp ONGC.NS, with revenue potential of about 50 billion rupees ($553.3 million)

** Nomura ("buy," PT: 360 rupees) sees this announcement as a positive development and expects that the remaining 50% capacity may also be booked before the ethane USH facility comes online

** Brokerage estimates first-year EBITDA on 1.4 billion rupees, adding that 15th year EBITDA can hit 2.75 billion rupees without taking any margin improvement
** Mean rating of stock is 'hold'; median PT is 316 rupees - data compiled by LSEG

($1 = 90.3700 Indian rupees)

 (Reporting by Brijesh Patel in Bengaluru)

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