Stock Analysis, IPO, Mutual Funds, Bonds & More

Reliance Securities maintains buy on Gail (India), target price Rs 154

Buy GAIL (India) Ltd. at a price target of Rs 154.0 .

Last Updated: Nov 21, 2019, 08.23 AM IST
ThinkStock Photos
Reliance Securities has maintained a Buy rating on Gail (India) in the long term with a target price of Rs 154. Shares of Gail (India) closed 0.8% lower at Rs 124 on Wednesday while the BSE Sensex closed 181.94 points up at 40,651.64.

Company Financials

For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 18235.45 crore, down -1.26% from last quarter sales of Rs 18467.44 crore and down -5.73 % from last year same quarter sales of Rs 19342.88 crore. The company has reported net profit after tax of Rs 849.27 crore in the latest quarter.

Investment Rationale

Gail posted improved volume performance in quarter ending September with natural gas transmission growing 7% year-on-year. Also, petrochemical facility utilisation touched a new high of 112% in September quarter. However, Gail sold contracted LNG at lower price in spot market, for which its gas marketing margin fell during the quarter.

Also Read

Buy KEC International, target price Rs 328: Reliance Securities

Buy Crompton Greaves Consumer, target price Rs 344: Reliance Securities

Reliance Securities maintains buy on Gujarat Gas, target price Rs 330

Reliance Securities maintains 'buy' on Ambuja Cement, target price Rs 250

Reliance Securities has buy on Ashok Leyland, target price Rs 111

Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service