Maybe due to short term head winds due to international LNG price rise. Or the market is feeling the threat from Indian Gas Exchange (IGX). They have a subsidiary Gujarat Gas Ltd which is having head winds due to the price rise of LNG. GSPL being the holding company of GGL there is a holding company discount applicable to GSPL. If you consider the value of GSPL as a standalone entity the P/E will make sense. That’s what my understanding is. I might be wrong too. But if earnings rise nothing can stop the stock price.
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