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Petronet LNG trades in green on incorporating wholly-owned subsidiary company

Petronet LNG is currently trading at Rs. 254.10, up by 2.75 points or 1.09% from its previous closing of Rs. 251.35 on the BSE.

The scrip opened at Rs. 254.10 and has touched a high and low of Rs. 254.95 and Rs. 252.60 respectively. So far 34792 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 280.00 on 07-Jul-2020 and a 52 week low of Rs. 170.75 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 260.90 and Rs. 242.20 respectively. The current market cap of the company is Rs. 38032.50 crore.

The promoters holding in the company stood at 50.00%, while Institutions and Non-Institutions held 36.49% and 13.51% respectively.

Petronet LNG has incorporated wholly-owned subsidiary company namely ‘Petronet Energy’ on February 26, 2021. The newly incorporated wholly-owned subsidiary Company i.e Petronet Energy shall undertake the businesses/activities, including but not limited to Gassing up and/ or Cool down and supply of heel quantity to LNG vessels, LNG bunkering, Training, Consultancy, other value-added marine, transport, LNG services etc. as per the object clause of the Memorandum of Association of the Company. The registered office of this company is at New Delhi.

Petronet LNG is one of the leading players in oil and natural gas industry space. The company’s promoters are GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL).

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