GAIL shares up 0.9% as Sensex rises

Shares of GAIL (India) Ltd. gained 0.9 per cent to Rs 106.95 in Wednesday's session as of 10:26AM (IST) even as the equity benchmark Sensex traded 16.04 points higher at 60173.76.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 115.63 and a 52-week low of Rs 83.0 on NSE. Around 66886 shares changed hands on the counter till 10:26AM (IST).

The stock opened at Rs 105.25 and has touched an intraday high and low of Rs 107.15 and Rs 105.25 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 8.34, earnings per share (EPS) of Rs 12.83 and price to book value (PB) of 1.08, while the return on equity (ROE) stood at Rs 19.11.

Promoter/ FII Holding
The promoters held 51.91 per cent stake in the company as of April 12, while FII and MF ownerships stood at 18.04 per cent and 7.68 per cent, respectively.

Key Financials
With a market capitalisation of Rs 70320.69 crore, the company operates in the Gas Distribution industry. For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 36334.2 crore, down 6.65 per cent from the previous quarter?s Rs 38921.38 crore and down 36.77 per cent from the same quarter a year ago. The company reported net profit of Rs 413.76 crore for the latest quarter, down 89.06 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 58.4. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.