Merger Buzz Triggers Rally In Gujarat Gas & GSPL： Here’s What Experts Think

Transcript

00:00I think GSBL also has done a one-way rally right from around 320 levels.

00:06So I would say let's wait because the trend is very intact.

00:09I mean, continue holding.

00:11This can still go higher towards around 480 to 500.

00:15Okay, got it.

00:16So that's the move that's being seen.

00:19In fact, the volumes is 600 crores, Shell tells me.

00:23It's a record high right there.

00:25So it's a strong move.

00:27And Gujarat Gas also now up at a 10% circuit right there.

00:31667.6 for Gujarat Gas.

00:34Keep an eye out on this pace.

00:35We will be continuing to focus on how this pace develops even going forward from here.

00:39Remember, Antique raised Gujarat Gas's target price to 726 in their report today

00:46after the merger has been announced.

00:48And Aquarius has also upgraded the stock to add with a target price of 667,

00:53which it has reached right now.

00:56And they believe it's a well thought out merger and will benefit the company

01:00as the second largest gas trading company going forward from here.

01:03We'll again mark Gujarat Gas here, ladies and gentlemen.

01:08The circuit is at 697.

01:10Why I mentioned this circuit apart from the very sharp rally that we've seen.

01:16At the moment up 12%.

01:20And just look at the kind of move that has come in.

01:24Already at 9.32, we have four times the five-day average traded, which is 68 lakhs.

01:31A record high and probably there is more to go.

01:36And this is where Vaishali steps in.

01:39I'll take back my earlier statement, Vaishali, on trying to chase momentum.

01:43Let's now look at the medium term charts of Gujarat Gas.

01:46What are they telling you?

01:48They are on the verge of a breakout above 690 if it sustains.

01:52And of course, as you said, volume is exceptionally high.

01:55This can go towards 700.