GAIL India shares are giving good returns to the investors. The share has gained 54% in the last 6 months. The brokerage has indicated the possibility of further increases.
GAIL (India) Share Price: Shares of state-owned company GAIL India are giving good returns to investors. The stock has gained 92% in the past one year. Thus, in just 12 months, GAIL India stock has almost doubled investors’ money. In the last trading session i.e. on Friday January 2nd, shares of GAIL India closed at Rs 178.50 (GAIL (India) Share Price) with an increase of 2.76%. The stock is now trading near its 52-week high. Its 52-week high is Rs.180 while its 52-week low is Rs.91.05.
Brokerage firm Sharekhan expects further upside in GAIL India and has maintained its ‘buy’ rating on the stock. GAIL India Limited’s net profit on standalone basis for the December 2023 quarter of the current financial year rose 10-fold to Rs 2,842.62 crore. Good performance in all business segments, from gas transportation to petrochemicals, has boosted profitability. Profit for the July-September 2023 quarter was Rs 2,404.89 crore.
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92% return over the year
GAIL India shares have given investors a return of 92% in one year. The share has gained 7.40% in last five trading sessions alone. The stock has gained 10% in the last one month and 54% in the last six months.
If profits exceed expectations, the target price is increased.
Sharekhan in his research report said that GAIL India’s net profit has been 29% higher than its estimates. GAIL Trading continued to benefit from strong marketing margins, while LPG-LHC EBITDA growth was driven by higher receivables. The company’s management has raised the FY24 gas marketing EBITDA guidance to Rs 5,500 crore. Given the company’s performance and future prospects, GAIL India has raised the target price to Rs 200 per share, Sharer Khan said.
(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).
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First Publication: February 3, 2024, 11:47 IST
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