Buy Petronet LNG on every dip for long term perspective of 2 years. The company has sound fundamantals & good expansion plans.
The Company has planned to set up a 500-MW power plant in Vypeen Island, adjacent to the LNG terminal, at an estimated cost of Rs 2,500 crore within a total area of 50 hectares.
The Mega project terminal would become fully operational by March 2012 & it is expected to yeild very good returns. This project will also create a good employment and so even the government may encourage FDI to invest in this counter.
There is short term Res. of 47-50 levels if global ques keep calm. Whereas the target for 2 years is upto 200-220 levels.
