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Yes Securities has given a buy rating to GAIL with a target price of Rs 97. The share price moved down by 0.17 per cent from its previous close of Rs 87.65. The stock’s last traded price is Rs 87.50.
GAIL (India) Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 39531.39 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 12174.15 Crore, down 32.07 % from last quarter Sales of Rs 17922.79 Crore and down 34.08 % from last year same quarter Sales of Rs 18467.44 Crore. The Company reported net profit after tax of Rs 192.79 Crore in latest quarter.
Investment Rationale
Forming multiple lows between Rs 81-82, the stock has managed to rebound sharply in the recent past. Forming a bullish candle, the stock has managed to provide a close above 15 day EMA. These EMA levels were acting as a hurdle zone since September month. Positive divergence is seen in the momentum indicators. Hence, positive follow up could continue the recent rebound.
Promoter/FII Holdings
Promoters held 51.8 per cent stake in the company as of June 30, 2020, while FIIs held 16.2 per cent, DIIs 27.2 per cent and public and others 4.9 per cent.
GAIL (India) Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 39531.39 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 12174.15 Crore, down 32.07 % from last quarter Sales of Rs 17922.79 Crore and down 34.08 % from last year same quarter Sales of Rs 18467.44 Crore. The Company reported net profit after tax of Rs 192.79 Crore in latest quarter.
Investment Rationale
Forming multiple lows between Rs 81-82, the stock has managed to rebound sharply in the recent past. Forming a bullish candle, the stock has managed to provide a close above 15 day EMA. These EMA levels were acting as a hurdle zone since September month. Positive divergence is seen in the momentum indicators. Hence, positive follow up could continue the recent rebound.
Promoter/FII Holdings
Promoters held 51.8 per cent stake in the company as of June 30, 2020, while FIIs held 16.2 per cent, DIIs 27.2 per cent and public and others 4.9 per cent.
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