The shares of Aegis Logistics Limited are making new highs and continued to rally by 5 per cent to reach a new 52-week high of Rs 303.55 in the early hours on Thursday. Their all-time high is at ₹ 920 apiece, which they reached on July 30, 2015.
The company’s shares are currently trading at ₹297.60 apiece. They surged 15.94% in the past five days and 56.38% in the past six months. If an investor would have invested ₹ 1,00,000 in the shares of the company six months ago, the value of their holdings would have been ₹ 1,56,380 today.
Nomura has maintained a buy rating on the company’s shares with a target price of ₹ 433 apiece. This indicates an upside of 46% as compared to its current share price.
The brokerage said that it expects higher margin distribution sales on the upswing, sustained distribution growth and new growth opportunities, LPG volumes to pick up from H2FY23, and rising global prices opportunity to up high-margin industrial LPG sales in Gujarat.
Aegis Logistics is an energy-focused mid-cap company with a market capitalization of ₹ 10,530 crores. It is among India’s leading oil, gas, and chemical logistics companies with a significant foothold as a leading seller of liquefied petroleum gas (LPG).
Aegis Logistics has a dividend yield of 0.83, and a price-to-earnings ratio of 26.70 as compared to the sector PE of 23.84. Its revenue and net profit show an increasing trend on a quarterly basis. The company has an ideal debt-to-equity ratio of 0.18 and a return on equity of 16.40%.
Written by Simran Bafna
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