Gujarat Gas - The Green Wave Upgrading The Multiple: Motilal Oswal
Gujarat Gas pumping station (Image: Company website)

Gujarat Gas - The Green Wave Upgrading The Multiple: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Gujarat Gas Ltd. has proved to be a clear outperformer since the curbing of polluting fuels at Morbi – an impetus by the government toward the adoption of greener fuel.

Since our upgrade in December 2019, the stock is up 116% - it has outperformed the Nifty by approximately 95% - despite which the stock trades at 21 times FY23E earnings per share currently.

Interestingly, we have upgraded our EPS every quarter since then (from Rs 12.3 to Rs 19.9 for FY22E) on the back of better-than-expected volume growth.

Click on the attachment to read the full report:

Motilal Oswal Gujarat Gas Company Update.pdf

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