Feb 16, 2017 03:25 PM IST | Source: Moneycontrol.com

Buy Gail; target of Rs 535: ICICI Direct

ICICI Direct is bullish on Gail has recommended buy rating on the stock with a target price of Rs 535 in its research report dated February 13, 2017.

Buy Gail; target of Rs 535: ICICI Direct

ICICI Direct's research report on Gail

Gail reported Q3FY17 numbers, which came in higher than our estimates. The topline declined 8.4% YoY to Rs 12318.6 crore but came in higher than our estimate of Rs 11328.1 crore mainly on account of higher than estimated natural gas trading revenues.

Outlook

We have valued the company using the SOTP methodology, valuing the core business using DCF and assigning a target multiple to the EBITDA of other business segments. We have a BUY recommendation on GAIL with a target price of Rs 535.

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