Share price of Petronet LNG falls as Sensex drops 239.38 points

Share price of Petronet LNG falls as Sensex drops 239.38 points
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Synopsis

Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 34.83 per cent and 2.71 per cent, respectively.

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Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
The share price of . dropped 0.91 per cent to Rs 202.5 at 11:26AM (IST) in Friday's trade. The scrip has hit a high of Rs 205.1 and low of Rs 202.4 so far during the session. The stock had closed at Rs 204.35 in the previous session.

The counter has had a total traded volume of 14673 shares so far with a value of Rs 0.3 crore on the NSE. It traded at a price-to-earnings multiple of 8.71 and a price-to-book ratio of 2.13.

A higher price-to-earnings ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

The price-to-book value indicates the inherent value of a company and reflects the price investors are willing to pay even for no growth in the business.

The scrip declined 12.07 per cent during the past one year, while the 30-share index slipped -2.96 per cent during the same period.

Petronet LNG Ltd. belongs to the Gas Storage & Distribution industry.

Promotor/FII Holding
Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FIIs and domestic institutional investors ownership stood at 34.83 per cent and 2.71 per cent, respectively.

Key Financials
The company reported consolidated sales of Rs 14388.0 crore for the quarter ended 30-Jun-2022, up 27.99 per cent from the previous quarter's Rs 11241.74 crore and up 66.02 per cent from the year-ago quarter's Rs 8666.47 crore.

Profit for the latest quarter stood at Rs 724.84 crore, up 8.18 per cent from the same quarter a year ago.

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