Petronet LNG shares tank 8% to 52-week low, set for worst month in nearly two decades
Published on 23/03/2026 10:11 AM
Petronet LNG shares tank 8% to 52-week low, set for worst month in nearly two decadesNomura cut its financial year 2027 Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) estimates for Petronet LNG by 23% as it expects Ras Laffan to take months to come back online.By Hormaz Fatakia March 23, 2026, 10:11:57 AM IST (Updated)2 Min ReadShares of Petronet LNG Ltd. slumped as much as 8% on Monday, March 23, as the US-Iran war in West Asia continues to shows no signs of easing. This is the third straight day of losses for the stock.
The stock had declined 5% last Friday, following another 7% drop on Thursday, March 19. With this fall, the stock has now slumped to a 52-week low.
Petronet LNG is the most impacted by the issues plaguing QatarEnergy as it has declared a Force Majeure due to the attacks on its Ras Laffan industrial complex, has hurt nearly 17% of its overall export capacity.
QatarEnergy went on to add that the damaged infrastructure will take at least three to five years to repair, and it will force them to declare a Force Majeure on long-term contracts for countries such as Italy and China, although India is not mentioned in that list.
On Friday, brokerage firm Nomura cut its price target on Petronet LNG to ₹340 from ₹370 earlier but maintained its "buy" recommendation on the stock. It said that the crisis in West Asia will impact near-term volumes.
As a result, Nomura cut its financial year 2027 Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) estimates for Petronet LNG by 23% as it expects Ras Laffan to take months to come back online.
33 analysts have coverage on Petronet LNG, where 19 have a "buy" rating on the stock, eight say "hold" and six have a "sell" rating on the stock.
Shares of Petronet LNG are trading 7.8% lower on Monday at ₹237.55. The stock is down 26% so far in the month of March. It is turning out to be the worst month for the stock since October 2008, when it had declined 28%.Continue ReadingFirst Published: Mar 23, 2026 10:09 AM ISTTagsPetronet LNGshare market todayUS Iran war