Petronet LNG inches up on inking MoU with LTL Holdings
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Petronet LNG is currently trading at Rs. 378.70, up by 0.30 points or 0.08% from its previous closing of Rs. 378.40 on the BSE.
The scrip opened at Rs. 384.90 and has touched a high and low of Rs. 384.90 and Rs. 378.70 respectively. So far 70598 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 384.90 on 21-Aug-2024 and a 52 week low of Rs. 191.65 on 10-Nov-2023.
Last one week high and low of the scrip stood at Rs. 384.90 and Rs. 366.20 respectively. The current market cap of the company is Rs. 57097.50 crore.
The promoters holding in the company stood at 50.00%, while Institutions and Non-Institutions held 38.43% and 11.56% respectively.
Petronet LNG (PLL) has entered into a Memorandum of Understanding (MoU) with LTL Holdings (LTL) of Sri Lanka on August 20, 2024 at Colombo, Sri Lanka for supply of LNG to LTL’s dual fuelled Power Plant(s) in Kerawalapitiya, Colombo.
Both parties, through this MoU, have agreed for development of LNG supply chain from PLL’s LNG terminal, Kochi to LTL’s Power Plant(s) in Kerawalapitiya, Colombo in a time bound manner. The proposed supply of LNG from PLL's Kochi LNG Terminal would be through LNG ISO tank containers involving multi-modal transport system. The initial term of LNG supply would be 5 years, which is extendable subject to mutual agreement.
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).
