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Buy GAIL (India) target of Rs 184: Prabhudas Lilladher

Prabhudas Lilladher is bullish on GAIL (India) has recommended buy rating on the stock with a target price of Rs 184 in its research report dated June 10, 2021.

June 14, 2021 / 03:13 PM IST
An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

 
 
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Prabhudas Lilladher's research report on GAIL (India)


We increase our FY22/23E earnings by 10.8%/1.7% to incorporate higher petrochemicals and LPG realization. Sharp recovery in commodity prices inline with recovering economy, augurs well for GAIL. Also, commissioning of new pipelines over next one year will augment volumes and profits.


Outlook


We had put the rating under review after a sharp run up in stock prices and now have a BUY rating with a PT of Rs184 based on 7x EV/E FY23E.


 For all recommendations report, click here


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first published: Jun 14, 2021 03:13 pm

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