India's Petronet LNG rises after J.P. Morgan upgrades rating on earnings outlook

Petronet LNG

09/01/2026 04:29

** Shares of Petronet LNG Ltd PLNG.NS rise 4.1% to 294.8 rupees

** J.P. Morgan upgrades PLNG to "overweight" from "neutral"; hikes PT to 335 rupees from 295 rupees

** Brokerage sees earnings momentum improving from FY27 on Dahej expansion, 5% annual tariff hike and lower impairment costs

** Says potential renegotiation of Dahej tariffs and 200-billion-rupee ($2.22 billion) Propane Dehydrogenation capex remain long-term valuation risks but are unlikely to materialise before 2028

** Improved near-term earnings should help the stock, JP Morgan says

** Average rating by 32 analysts on the stock is 'hold'; median PT is 313 rupees - data compiled by LSEG

** Stock fell nearly 18% in 2025

($1 = 89.9840 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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