Gujarat Gas up in the air

Gujarat Gas is in the limelight today morning. The stock price rose over 2.5% in the morning trades to Rs.683.75 and currently, it just about holding on to the green.

There is no corporate development as such in the stock but a research report put out by Equirus Capital, which while maintaining the buy call on the stock, raised the target price from Rs.718 to Rs.774.

The research house, in the report states that it expects the company’s EBITDA per standard cubic meter to hit Rs.4.30 by 2020 and by FY21, expects its EBITDA CAGR to be at 15%, expecting interest costs to come down substantially.