GAIL shares drop 0.57% as Sensex rises

Shares of (India) Ltd. traded 0.57 per cent lower in Wednesday's session at 12:16PM (IST). The stock opened at Rs 148.5 and has touched an intraday high and low of Rs 150.0 and Rs 147.9, respectively, during the session so far.

The stock quoted a 52-week high of Rs 170.0 and a 52-week low of 81.25. About 147,886 shares changed hands on the counter so far.

Benchmark Nifty50 was up 27.55 points at 15839.90, while the BSE Sensex traded 88.66 points higher at 52858.39 at the time of writing of this report.

In the Nifty pack, 24 stocks traded the day in the green, while 26 were in the red.


Key Financials
For the quarter ended 31-Mar-2021, the company reported consolidated sales of Rs 16185.41 crore, up 1.91 per cent from the previous quarter's Rs 15882.82 crore and up 14.26 per cent from the year-ago quarter. The company reported net profit of Rs 2486.62 crore for the latest quarter.

Promoter Holdings
Promoters held 51.82 per cent stake in the company as of 31-Mar-2021, while FIIs held 15.63 per cent and MFs 8.52 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 128.59 on July 14, while the 50-DMA was at Rs 154.89. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.