Shares of GAIL rise as Nifty drops

Shares of GAIL (India) Ltd. gained 0.27 per cent to Rs 93.3 in Wednesday's trade as of 12:23PM (IST). It hit a high of Rs 93.75 and low of Rs 92.35 during the session.

The stock quoted a 52-week high price of Rs 115.63 and a low of Rs 83.47. The return on equity for the stock stood at 19.11 per cent. About 459,360 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.91.

The scrip has been an underperformer, down 2.91 per cent in the past one year in comparison with a 1.39 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 83.47 on September 07, while the 50-DMA was at Rs 91.66. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 51.52 per cent stake in (India) Ltd. as of 30-Jun-2022. Mutual funds and foreign institutional investors held 8.41 per cent and 19.78 per cent stake.