gujarat state petronet (Emkay) Volumes and realisation disappoints

Transmission tariff declined by 4.2% YoY & 9.2% QoQ, but volume remains flat at 35.5mmscmd; Depreciation writeback boosts profitability in Q4 FY11; Expects t ransmission volume at 40mmscmd in FY12E and 45mmscmd in FY13E
Date Rating Target Price Recommendation Price Broker house
27 May 2011 buy 120 97 Emkay Report

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