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BUZZ-India's Petronet LNG rises on profit jump
May 10, 2017 / 4:14 AM / 6 months ago

BUZZ-India's Petronet LNG rises on profit jump

** Petronet LNG Ltd rises as much as 4.6 pct to highest since April 21

** Co's March-qtr profit jumped 92 pct to 4.71 bln rupees ($72.83 million), tops analysts' average estimate of 3.92 bln rupees bit.ly/2qptuwK

** Petronet recommends 50 pct dividend for FY ended March vs 25 pct year earlier bit.ly/2qpJPBX

** Says to issue bonus shares in 1:1 ratio

** Morgan Stanely analysts point to a steady growth, say Petronet delivered “positive surprise on volumes, indicating stable LNG demand in the country”

** Stock posts biggest intraday pct gain since April 12 ($1 = 64.6690 Indian rupees)

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