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Recommendation From Oil Marketing & Realty Sectors

| 02/01/2018 Thursday

The scrips in this column have been recommended with a 15-day investment horizon in mind and carry high risk. Therefore, investors are advised to take into account their risk appetite before investing, as fundamentals may or may not back the recommendations

...................................................................................

PETRONET LNG 

CMP - Rs254.70
BSE CODE 532522
Volume 201407
Face Value Rs10
Target Rs287
Stoploss Rs231

The company, in which BPCL, GAIL, IOCL and ONGC holds 12.5% stake each, is engaged in import and regasification of liquefied natural gas (LNG). The banned usage of petcoke, robust and continued gas demand and lethargic pick-up in domestic gas production has benefited the company so far. However, the reduction in LNG prices and rise in regas service cargos led to reduction in value terms, despite higher quantity last year. However, better operational efficiency resulted in higher PAT growth of 87% in FY17, despite revenue de-growth of 9%. Going forward, it plans to increase regasified LNG capacity by FY19. It is expected to add 2.5 MMTPA in Dahej and commission Mangalore Kochi pipeline. Company has signed MoU with Bangladesh National Oil Company to set up LNG terminals. Also, at the domestic level, the company is expected to penetrate into retail LNG.We recommend a BUY on the scrip.

AJMERA REALTY INFRA 

CMP - Rs311
BSE CODE 513349
Volume 8794
Face Value Rs10
Target Rs348
Stoploss Rs285

Ajmera is a real estate company with its presence majorly in Mumbai, Bangalore and Ahmedabad and an international project in Bahrain. The company operates in two segments, viz; construction and renewable energy, but it has earned revenue only from construction activities and has not earned any revenue from the energy segment in FY17. The company has posted revenue de-growth of 12.5% in FY17. However, its TTM revenue posted growth of 10%, which suggests recovery in the last couple of quarters. Its PAT reported growth of 52% in FY17, with TTM growth reaching 79.5% as compared to FY16. Fundamentally, the company’s P/E stands at 14.8x, much lower than its peers. Further, its D/E is 1, but the interest coverage of 3.1x lends it financial stability. Going forward, not just domestic, but it has proposed projects in London and Bahrain. To reap the benefit from the government’s 'Affordable Housing, it is expected to foray into affordable realty segment, keeping the pace of premium project development intact. We recommend a BUY on the stock. 

 

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