Technical analyst Mitesh Thacker has maintained 'buy' rating on Petronet LNG Ltd with a first target of Rs 129-130.

According to analyst, the investors can buy the stock with a stop loss below Rs 119.

Double your positions if the stock crosses the first target and then hold with target of Rs 140-145, Mr. Thacker added.

The stock of the company, on December 13, closed at Rs 123.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 129.75 and a low of Rs 69.70 on BSE.

Current EPS & P/E ratio stood at 5.64 and 22.99 respectively.

Petronet LNG Ltd, a group upgraded by publicly owned energy companies, has decided to increase the capacitance of a proposed liquefied natural gas (LNG) terminal at Puthuvypu, near Kochi in Kerala, to 5 million tonnes (mt).

Petroleum secretary S. Sunderasan stated that the company's board proposed to augment capacitance by taking investment in the terminal to Rs 4,000 crore.

The proposed LNG terminal is likely to be accredited by March 2012.

The company had inked a 1.5-tonne LNG supply contract with ExxonMobil Australia and is making discussions with other LNG dealers.

GAIL (India) Ltd, ONGC, IOL and BPCL each possess 12.5% in Petronet LNG, whereas 10% is possessed by GDF International Co. Ltd, 5.2% by ADB and the remaining 34.8% by the public. (IANS)