Gujarat Gas Ltd (GUJGASLTD)

Elara Capital Expects 51% EBITDA Growth for Gujarat Gas Ltd - 15 Jul, 2024

Gujarat Gas is expected to see a 51% YoY growth in EBITDA based on a 13% volume growth and a 33% EBITDA/scm margin growth. Elara Capital predicts that the company will benefit from a likely LNG surplus and propane demand surge globally from early 2025, making gas economics favorable.

Oil India and Gujarat Gas are Top Picks in the Sector - 12 Jul, 2024

According to analysts, Gujarat Gas is a top pick in the sector due to its exposure on the industrial side. However, unless they expand into new geographical areas, CNG volume growth may not be seen.

Gujarat Gas Ltd Shares Rise on Potential Tax Cuts for CNG - 10 Jul, 2024

Shares of Gujarat Gas Ltd rose in response to reports speculating that the Indian government may reduce central excise duty on compressed natural gas (CNG) from 14% to 5-7%. The company is engaged in the distribution of natural gas in India.

Gujarat Gas Hikes Industrial Gas Prices; Share Prices Rise Over 10% - 09 Jul, 2024

Gujarat Gas has increased the price of industrial natural gas by Rs 2 to Rs 2.48 per SCM for the Morbi region in Gujarat. The company's share prices have risen more than 10% in one month due to softening gas prices.

Gujarat Gas Target Price Upped by Nuvama and JM Financial Buy Call - 08 Jul, 2024

Nuvama Institutional Equities increased Gujarat Gas' target price by 9-17% to Rs 740, while JM Financial issued a buy call with a target price of Rs 700. Gujarat Gas also raised its industrial natural gas prices in the Morbi region.

Citi Concerned with Gujarat Gas' Strategy Amidst Hike in Gas Prices - 04 Jul, 2024

Gujarat Gas Ltd faces concerns from Citi due to its strategy to compete with propane amidst a 50%+ increase in spot LNG prices. The recent recovery in Morbi volumes could also reverse on the back of a price hike.

Gujarat Gas Hikes Industrial Gas Prices - 03 Jul, 2024

State-run Gujarat Gas has increased the price of industrial gas by ₹2 per standard cubic metre (scm) for its Morbi region, effective from July 4. The hike is due to higher spot liquefied natural gas (LNG) prices and will adversely affect ceramic manufacturers' profit margins. Shares of Gujarat Gas were trading 1.98% lower at ₹637.95 apiece on the NSE.

Gujarat Gas Plans Rs 1,200 Crore Capex for FY24-25 - 28 Jun, 2024

Gujarat Gas has allocated Rs 1,200 crore as capital expenditure for FY24-25 to expand its pipeline network and provide new piped natural gas connections to over 3.3 lakh households in six states. The city gas distribution company also plans to set up 200 CNG stations in at least four states in the next two years.

Gujarat Gas Ltd Stock Shows Signs of Uptrend - 27 Jun, 2024

After breaking out from a two-year consolidation phase with strong volumes, Gujarat Gas Ltd stock retraced to the neckline of its breakout zone. It is now inching higher and taking support from the same level, indicating that the ongoing uptrend is likely to continue. Traders can consider going long in the stock.

Gujarat Gas Stock Expected to Rally - 22 Jun, 2024

The Gujarat Gas stock has broken out of a resistance level at ₹600 and confirmed a bull flag pattern on the weekly chart. The stock is expected to appreciate to ₹780, with a barrier at ₹750 over the medium term.

Technical Analyst Recommends Buying Gujarat Gas Ltd - 20 Jun, 2024

Mehta Equities' Technical Analyst, Riyank Arora, recommends buying Gujarat Gas Ltd as the stock has shown a strong breakout above its recent resistance level of 620 on the daily charts. The RSI (14) at 60.56 indicates strong momentum, suggesting a likely robust uptrend with a target of 700 and beyond.