Buy GAIL (India), target price Rs 119: Religare Broking

Religare Broking has buy call on GAIL (India) with a target price of Rs 119. The current market price of GAIL (India) is Rs 109.35. Religare Broking recommended to keep stop loss at Rs 105.

GAIL (India), incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 72227.47 Crore) operating in Gas & Petroleum sector.

GAIL (India) key Products/Revenue Segments include Gas Natural, Polymers, Sale of services, Propane, Other Operating Revenue, Compressed Natural Gas (CNG), Power, Oil Crude for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 36334.20 Crore, down -6.65 % from last quarter Total Income of Rs 38921.38 Crore and up 36.77 % from last year same quarter Total Income of Rs 26566.52 Crore. Company has reported net profit after tax of Rs -151.51 Crore in latest quarter.

The company’s top management includes Mr.Manoj Jain, Mrs.Kangabam Inaocha Devi, Mr.Nandhagopal Narayanasamy, Mr.Sanjay Kashyap, Mr.Sher Singh, Mr.Akhilesh Jain, Mr.Navneet Mohan Kothari, Mr.Deepak Gupta, Mr.R K Jain, Mr.M V Iye, Mr.Ravikant Kolhe. Company has A R & Co. as its auditors. As on 31-03-2023, the company has a total of 658 Crore shares outstanding.

Investment Rationale
Formed a strong base around the record high. Ready for a new high.

Promoter/FII Holdings
Promoters held 51.91 per cent stake in the company as of 31-Mar-2023, while FIIs owned 16.4 per cent, DIIs 17.92 per cent.