Maintain ‘buy’ on Petronet with a fair value of Rs 310
Maintain ‘buy’ on Petronet with a fair value of Rs 310
The company’s return profile remains strong, with ROE/ROCE at 25–26%/21–23% over FY21–24E. We maintain ‘buy’. As highlighted in its annual report, the company is embarking on a major diversification journey, which we discussed with the management today.