Petronet LNG seems to be in the same boat like Coal India 2 years back.
Its dividend yield is improving since P/E and P/B are both contracting. ROE has improved marginally after 2020 & 2021.
Main concern seems to be their capex plans in Petro-chemicals (looks like diversification in unrelated area) and usage of EV going up in next few years.
Stock has not moved much after 2021, and could be the right candidate to move in next few years.
Lot of patience is needed here.
PLNG may increase their presence in EV charging space, but that may not add meaningful revenues in near term. So mainly stock can go up only if P/B reverts to Mean.
Continue to hold the stock as long as Dividend Yield is above 2-3%.
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