GAIL’s better-than-expected show for the December quarter (Q3), led by a rebound in the gas trading segment’s performance, boosted the Street’s sentiment, leading to an almost six per cent surge in the stock on Tuesday. Most other segments, including petrochemicals, LPG and hydrocarbons also saw some improvement.
Natural gas trading, which contributes 74 per cent to GAIL’s topline, had had subdued profitability in the previous quarter as the firm had to sell larger quantities of gas in the spot market in a weak pricing environment. However, the segment's ...
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First Published: Tue, February 11 2020. 19:33 IST
