Emkay Global Financial Services said GAIL is favourably placed, though the recent stock outperformance prices in most positives, as it downgraded its rating on the stock to 'hold' from 'buy'.
GAIL is planning to import ethane from the US to replace natural gas and naphtha as feedstock at petrochemical plants.
The 17,300 level is expected to act as a crucial support, followed by the recent swing low of 17,250 and, if the said levels get broken, then there could be correction up to the 17,000 mark
Morgan Stanley has an 'outperform' rating to GAIL, with a target price of Rs 124, a potential upside of 11 percent from the current price
About 2,113 shares advanced, 1,307 shares declined, while 122 scrips remained unchanged on March 3
Morgan Stanley has an Outperform rating to GAIL India with a target price of Rs. 124
The next support is placed at 200-day SMA of 17,368, which coincides with Budget day's low, as breaking this may drag the Nifty towards 17,000 level, whereas the near-term resistance is expected at 17,600 followed by 17,700-17,800
CLSA has upgraded GAIL India's FY24-25 earnings per share (EPS) estimates by 14 percent, factoring in a 40 percent tariff hike proposed by GAIL India.
The company released an expression of interest to acquire as much as 26% equity in an existing LNG plant or a proposed facility that will be commissioned by 2027, according to a document released on its website. US LNG project developers can submit an offer to Gail.
ICICI Direct is bullish on Gail (India) recommended buy rating on the stock with a target price of Rs 115 in its research report dated February 01, 2023.
YES Securities is bullish on GAIL (India) has recommended buy rating on the stock with a target price of Rs 135 in its research report dated January 31, 2023.
Prabhudas Lilladher is bullish on GAIL (India) has recommended buy rating on the stock with a target price of Rs 123 in its research report dated January 30, 2023.
Sharekhan recommended Hold rating on GAIL (India) with a target price of Rs 100 in its research report dated January 30, 2023.
In the December quarter, the state-owned gas utility company's standalone net profit tanked 92 percent to Rs 245 crore from Rs 3,287 crore in the year-ago period
GAIL India shares hit Rs 100 mark after a long time and rallied more than 3 percent to Rs 102.25, the highest closing level since May 20, 2022 and has formed long bullish candle on the daily charts with strong volumes, with higher high formation for fifth consecutive session.
Experts feel the 17,800-18,200 range is expected to break on either side after the announcement of the Budget, hence, if the Nifty breaks 18,200, then 18,500 is the level to watch out for
Taking a glance at the rising volumes, we expect the momentum to extend in Dabur India in the forthcoming week.
India's largest gas distributor is seeking the cargoes for delivery during the month of February on a delivered ex-ship (DES) basis into the country's Dabhol terminal.
According to experts, 18,450-18,500 is likely to be a crucial area for further upside. If the said zone sustains, then new highs are possible in the coming days, with support at 18,300, followed by 18,000 levels
Sharekhan recommended Hold rating on GAIL (India) with a target price of Rs 97 in its research report dated November 07, 2022.
ICICI Direct recommended hold rating on Gail (India) with a target price of Rs 95 in its research report dated November 07, 2022.