IIFL cautious on GAIL

Harshavardhan Dole of IIFL is cautious on GAIL.

Dole told CNBC-TV18, "As a house we have a cautious view on GAIL but if you look at the reported Return on Invested Capital (ROIC) of the pipeline business those are not outlandish based on the provisional tariffs that PNGRB has given out. Those are anywhere ranging between about 15-17%. So the risk prima facie appears to be pretty low to GAIL