GSPL

The state is consistently ranked among top three in terms of attracting capital investment including foreign direct investment

Analysts have lowered their earnings estimates, but have 'buy' recommendations for several stocks

A larger correction is likely once the 16,782 supports are broken

Gas transmission by India's Gujarat State Petronet Ltd will rise by about a quarter in the next fiscal year starting from April as it links northern regions to an existing grid in the western state

Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities.

The stock dipped 6% to Rs 178 on the BSE after the company said that its board approved the acquisition of 28.4% stake of GGL from GSPCL by way of an inter-se transfer.

Even as gas, as part of Gujarat's energy basket, is set to grow from 27% to over 30% by the end of this year, the Gujarat State Petronet Ltd. (GSPL) is anticipating a 50 per cent growth in its gas supply business.GSPL is banking on the two upcoming LNG terminals - GSPC-Adani JV at Mundra and Swan Energy's Dahej of 5 mmtpa each, which will augment its gas sourcing from current 25 million metric standard cubic metres per day (mmscmd) to 3.6 million mmscmd by next year. "We are already sourcing from the existing LNG terminals such as Hazira. With the Mundra and Dahej terminals coming up, we will be able to enhance our sourcing as well," said T Natarajan, joint managing director, GSPL. Further, to cash in on the rising LNG capacity in the state, GSPL is also entering into an agreement with Swan Energy's SPV Swan LNG to pick up an 11 per cent equity stake in its terminal at Dahej which includes a floating storage regasification unit (FSRU). GSPL's board recently approved picking up of the .

Higher tariffs, improving volume outlook key positives for company