3 oil & gas stocks to buy: BSE oil & gas index at new 52-wk high; Modi commits to bring gas under GST

By | February 19, 2021

3 oil & gasoline shares to purchase: BSE oil & gasoline index at new 52-wk excessive; Modi commits to convey gasoline underneath GST

oil and gas, PM Modi, GST, ONGCBSE oil and gasoline index has hit a brand new 52-week excessive for the second day in a row, rising one per cent to fifteen,752.67 ranges. Picture: Reuters

Oil and gasoline shares have been in give attention to Friday after Prime Minister Narendra Modi stated that the federal government is dedicated to convey pure gasoline Items and Providers Tax (GST). It will assist to make the costs uniform and cheaper within the nation. The federal government has additionally deliberate to spend over Rs 7.5 lakh crore within the nation’s oil and gasoline infrastructure within the subsequent 5 years. When GST was carried out in 2017, solely 5 petro-products — petrol, diesel, crude oil, pure gasoline, and aviation turbine gasoline (ATF) — have been saved out of its purview. Analysts at Emkay International Monetary Providers famous that readability referring to the GST charge, estimation of enter tax credit score (ITC) amongst gasoline gamers and B2B prospects and whether or not the identical can be retained or handed are among the many key components to contemplate.

BSE oil and gasoline index has hit a brand new 52-week excessive for the second in a row, rising one per cent to fifteen,752.67 ranges. The highest gainers within the index have been Petronet LNG, Reliance Industries Ltd (RIL), GAIL (India) Ltd and Castrol India. Emkay International Monetary Providers has given ‘purchase’ to ONGC, GAIL and Gujarat Fuel. It has a ‘maintain’ ranking to Oil India Ltd and Indraprastha Fuel.

ONGC: The brokerage agency sees over 17 per cent upside in ONGC share worth from the earlier near Rs 130 apiece. The agency’s FY22E EPS stands at 13.9 and worth to earnings (P/E) ratio at 7.9x. ONGC was buying and selling over half a per cent decrease on Friday after it hit a recent 52-week excessive of 113.45 apiece. To this point in intraday offers, 9.18 lakh shares have traded on BSE.

GAIL (India) Ltd: GAIL (India) Ltd surged to a recent 52-week excessive for the straight day, to Rs 149.45 apiece. The brokerage agency has pegged a goal worth of Rs 160, implying an upside of 12 per cent from earlier shut. Emkay International Monetary Providers stated that for GAIL, petchem and LPG segments the place VAT is charged on feed gasoline, would now see restoration.

Gujarat Fuel Ltd: This gasoline inventory has a goal worth of Rs 475 apiece. Gujarat Fuel share worth rose to make a brand new 52-week excessive of Rs 526.90 apiece on Thursday. Although share worth is down almost 5 per cent from 52-week excessive, Gujarat Fuel shares are buying and selling within the inexperienced on Friday. On BSE, a complete of 1.15 lakh shares have traded to this point, whereas on Nationwide Inventory Trade 7.02 lakh shares have exchanged palms.

(The inventory suggestions on this story are by the respective analysis and brokerage agency. GadgetClock On-line doesn’t bear any accountability for his or her funding recommendation. Please seek the advice of your funding advisor earlier than investing.)

Get reside Inventory Costs from BSE, NSE, US Market and newest NAV, portfolio of Mutual Funds, Try newest IPO Information, Greatest Performing IPOs, calculate your tax by Revenue Tax Calculator, know market’s High Gainers, High Losers & Greatest Fairness Funds. Like us on Fb and comply with us on Twitter.

GadgetClock is now on Telegram. Click on right here to affix our channel and keep up to date with the most recent Biz information and updates.

#oil #gasoline #shares #purchase #BSE #oil #gasoline #index #52wk #excessive #Modi #commits #convey #gasoline #GST

Leave a Reply

Your email address will not be published. Required fields are marked *