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GAIL: This gas stock has not run up much and still has ample scope for returns

Post a challenging Q1, GAIL’s performance in Q2 has been notable, with a recovery in volumes in all major segments

November 12, 2020 / 01:48 PM IST
GAIL: This gas stock has not run up much and still has ample scope for returns

The public service undertaking has even opened a fresh round for solicitation of investment proposals [Representative image]

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Lifting of relaxations and a pick-up in economic activity led to a sequential recovery in most major segments at GAIL (CMP: Rs 92; Mcap: Rs 41,921 crore). Operations are now coming back to normal pre-covid levels with an uptick in volumes. However, compared to the same period last year, the performance continued to see an impact, especially in the gas trading and transmission businesses.  Still, the petchem segment sprang a positive surprise, showing improved performance. Low gas price, high retail...

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