Gujarat Gas stock flies 10% on merger, demerger plan; brokerages upbeat

Quick Summary:

Brokerages see an upside of up to 23 per cent in Gujarat Gas stock as they believe that the restructuring of these Gujarat companies will simplify the existing layered structure.

Thus, analysts have retained a ‘Buy’ rating on GGL with a target price of INR 745, marking an upside of 23 per cent.

Additionally, related-party transactions between GSPC and Gujarat Gas will be eliminated.“Shareholders of Gujarat State Petronet will witness value unlocking as they receive shares of both Gujarat Gas and GTL.

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Category: BusinessFinance

Markets: India

Topics: Gujarat Gas stocks Merger Gujarat Gas share levels Gujarat Gas stock levels Gas Companies GSPC Gujarat Gas stock price today Stock analysis NSE Gujarat Gas Gujarat Gas CGD GGL City Gas Distribution Business GSPL Shareholders Buzzing Stock Gujarat Gas Shares Merger plans Gujarat Gas Demerger plans Demerger Gujarat Gas share price BSE Gujarat Gas Stock Price GTL

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-02 @ 09:49:22 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 26 lines

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Copyright Owner: © Business Standard

News ID: 22326202

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