The stock market has been witnessing fluctuations for the last several trading sessions. Indices movement remains volatile. However, stock-specific action and movement are being seen.
At this time, brokerage houses are giving stock recommendations very cautiously. Investors are coming towards select sectors and stocks. Indian Oil subsidiary stock Petronet LNG Ltd is currently on the radar of investors.

Shares of Indian Oil subsidiary Petronet LNG Limited were trading at Rs 340 level with a gain of 2% on Monday. After a month of silence, some strength is now being seen in this PSU stock. Although this high dividend yield stock has given a return of 65% in the last one year, but for the last one month it has been silent and remains at a flat level.

Bharat Petroleum Corporation Limited (BPCL), GAIL (India) Limited (GAIL), Indian Oil Corporation Limited (IOCL), and Oil and Natural Gas Corporation Limited (ONGC) are the promoters of Petronet LNG Limited.
 

Brokerages turn bullish

Brokerage firm UBS is positive on the shares of Petronet LNG Limited and is giving big targets on the stock. According to UBS, this stock can see a rise of Rs 80 in the coming days. Petronet LNG Limited is one of the leading companies in the Indian energy sector.

Shares of Petronet LNG Limited rose 2 percent on Monday morning and reached the level of Rs 340. During this period, more than 13.20 lakh equity shares were traded. The total market cap of this midcap stock is Rs 50,797.50 crore.
 

Petronet LNG Share Price Target

UBS has upgraded the rating from Neutral to BUY and raised the target price from Rs 320 to Rs 400. The brokerage firm said that the company is a beneficiary of India's growing LNG dependence.

The brokerage said, “Capacity is being expanded at a time when India needs more LNG. India has secured 5 long-term LNG supply contracts starting in 2026. Dahej can handle 19-20 MMTPA LNG despite competition from new terminals.”

Petronet LNG Share Price Target

Petronet LNG Limited shares gave a positive return of 2.87 percent and 6.20 percent in the last 1 week and 2 weeks respectively. The company's shares declined by 0.34 percent and 8.85 percent in the last 1 month and 3 months respectively. On a year-to-date basis, the company's shares gained 47.66 percent. The company's shares gained 67.27 percent, 57.39 percent, 51.52 percent, 22.77 percent, and 238.10 percent in the last 1 year, 2 years, 3 years, 5 years,s and 10 years respectively.
 

Petronet LNG Dividend History

This year Petronet LNG Limited has announced a dividend of Rs 3 in July and Rs 7 in November. Last year, the company had declared a dividend of Rs 3 and Rs 7. In the year 2022, the company paid a dividend of Rs 4.50 in July and Rs 7 in November. The dividend yield of Petronet LNG Limited is 2.94 percent.