Gujarat Gas Share Price, 8 Feb 2021: Gujarat Gas Rallies to All-time High in Q3, Target Price Rs 490

Gujarat Gas Share Price, 8 Feb 2021: Stock market shares of Gujarat Gas Ltd gained significantly in the opening trade on Monday as volumes of the city gas regulator surged after Motilal Oswal gave a buy rating to Gujarat Gas with a target price of Rs 490. The current share price of Gujarat Gas Ltd is Rs 427.85. Also Read – Indian Railway Finance Corporation IPO Opens Today in Rs 25-26 per Share Price Band

Gujarat Gas reported a 23 per cent volume growth during the quarter driven by 29 per cent hike in industrial volumes. As a result, the net profit nearly doubled to Rs 392.1 crore against the projected growth of Rs 291.9 crore. Also Read – Watch Video: How to Start Investing in Share Market | Basic Tips For Beginners

Notably, Gujarat Gas shares gained nearly 14.2 per cent in early trade to Rs 434 apiece, which is also a lifetime high. Also Read – Share Market Holidays in July 2020: Here’s The Complete List of Days Stock Market Will Remain Closed

“As spot LNG prices moderate, Gujarat Gas expects overall volumes to increase further to over 12 mmscmd by the end of March,” financial services group Nomura noted.