Gujarat Gas share price: Sharekhan increase price target to Rs 630
Gujarat Gas has clearly outperformed the peers with 13.8% volume CAGR over FY2016-FY2020 as compared to a 12.7% for IGL and 4.5% for MGL. Even post lockdown in Q1FY21, Gujarat Gas has shown very strong volume growth of 6%/23% yoy in Q2 FY21 / Q3FY21.
Gujarat Gas volume growth to continue outpace its peers with our expectation of 22.4% volume CAGR over FY21-FY23 led by strong demand for industrial PNG from Morbi ceramic cluster and Chemical and Pharma belt in Gujarat: Reuters