Energy: The regulator wants to regulate :: Kotak Securities PDF Link

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Energy
India
The regulator wants to regulate. The Petroleum & Natural Gas Regulatory Board’s
(PNGRB) recent proposals/initiatives in the natural gas sector, if implemented, will likely
usher in a more competitive environment in the natural gas sector and benefit endconsumers. However, the proposals may be negative for natural gas companies in LNG
re-gasification, gas marketing and city gas distribution (CGD) businesses given their
current high financial returns. We reiterate our SELL rating on PLNG and negative view
on CGD stocks (IGL, GGAS).