GAIL Limited is one of the best India’s biggest Natural Gas companies. It is a central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. In this article, we will talk about the GAIL share price. Reportedly, GAIL’s share price increased almost 2% in early trade on BSE on 1 November 2023, Wednesday, a day after the firm reported its Q2FY24 earnings. Currently, people are super keen to know about the complete information about the news. Here we have more information about the news and we will share it with you in this article.
GAIL share price after Q2 results 2023
GAIL share cost unlocked at 120.65 against the last close of 119.55 and grew around 1.6 percent to the level of 121.50. However, the stock soon cooled off and had been trading 0.71 percent more elevated at 120.40 around 9:20 am in a weak market.GAIL share cost has gained about 32% in the previous year, especially outperforming the equity benchmark Sensex which has gained just over 4% in the same period. On Tuesday the company noted a 70.3 % jump in its September quarter standalone net profit at 2,404.89 crore from 1,412 crore in the last quarter. Scroll down to the next page for more information about the news.
The firm’s standalone income from functions in the second quarter of FY24 decreased 1.25% to 31,822.62 crore from 32,227.47 crore in the first quarter. The stock locked 0.76% higher on Tuesday. You are on the right page for more information about the news, so please read the complete article.
Brokerages retain earlier views
Most brokerage companies have had their last views on the stock after GAIL’s Q2 results. Brokerage company Motilal Oswal Financial Services held a buy call on GAIL stock with a target price of 140.
Motilal Oswal pointed out that GAIL said an EBITDA of 3,490 crore in Q2FY24, 54 % overhead the brokerage firm’s assessment of 2,270 crore. It was driven by a stronger-than-expected performance in gas transmission, trading, and petrochemicals details. Motilal Oswal ” We value the core business at 10 times FY25E revised EPS (earnings per share) of 11.7. Adding the value of listed and unlisted investment of 23 we come to a target price of 140″ Brokerage company Emkay Global Financial Services has held a hold call on the stock with a target price of 125. Here we have shared all the information that we had if we get any information then we will update you as soon as possible. Stay connected with us for more updates.