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Brokerages remain positive on GAIL, especially after its results for December quarter. HSBC thinks that the stock is attractive after recent correction.
It reported a 33 percent jump in December quarter net profit as it sold more natural gas and transported higher volumes.
Net profit in October-December 2018 at Rs 1,681.23 crore, or Rs 7.46 a share, was higher than the earning of Rs 1,262.22 crore, or Rs 5.60 per share, in the corresponding period of the previous fiscal, the company said in a statement here.
The profit was higher "mainly due to better performance by natural gas marketing, natural gas transmission, liquid hydrocarbon (LHC) and LPG transmission segments", it said.
Here is a gist of what brokerages have said about the results.
Brokerage: HSBC | Rating: Buy | Target: Rs 487
HSBC believes that after the recent correction, the stock now looks attractive. Regulatory clarity & improving gas supplies are two key catalysts for the company. The company is its top pick in India Oil & Gas Coverage.
Brokerage: Citi | Rating: Neutral | Target: Raised to Rs 370 from Rs 365
Citi said that gas trading surprised positively, while transmission was slightly ahead. It prefers IGL, GSPL & Petronet LNG in the gas space.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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