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Nirmal Bang Report
During the group investor meeting at our Investor Conference, GAIL India Ltd. management was positive about volume growth in the core Gas Transmission and Gas Marketing businesses – based on visibility on gas sourcing, benign gas prices and healthy end-use demand, including gas-based power.
Petronet LNG Ltd. management was sanguine about the increase in Dahej utilization to 100% plus, driven by healthy growth in LNG consumption along with higher utilisation of 50-60% in Kochi (once the final stretch of the linked pipeline (Kochi-Koottanad-Bangalore-Mangalore Gas Pipeline) is completed during Q3 FY25-Q4 FY25).
We maintain Accumulate on both GAIL as well as Petronet LNG post the 29%/36% rally year-to-date.
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