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Home STOCKS GAIL India share price: Increase GAIL India, concentrate on price Rs 113:...

GAIL India share price: Increase GAIL India, concentrate on price Rs 113: ICICI Securities

ICICI Securities has provided an add ranking to GAIL (India) Ltd. with a concentrate on price of Rs 113. The share price moved down by -1.38 for every cent from its past close of Rs 105.15. The stock’s last traded price is Rs 103.70.
In its conference call, when GAIL administration was asked whether or not tariff reforms and unified tariff experienced the prospective to make up for the disappointment (tariff hike of 4 per cent vs 36-40 for each cent predicted) on HVJ-DVPL tariff order in Jun’19, GAIL’s response was that tariff reforms can only be positive for gas transmission.
Investment Rationale
GAIL’s gas volumes, which have been down 30 for every cent calendar year on 12 months due to lockdown in April’20, are back again to usual other than in the scenario of CNG. At current, CNG demand is at 50 for every cent of pre-lockdown stages. GAIL expects CNG demand to get back to regular in one more two months. The GAIL administration has guided FY21E transmission volumes to be flat yr on calendar year. On staying questioned about splitting of GAIL’s transmission and advertising enterprise, the management reported a 100 for every cent subsidiary model for gas transmission is under consideration but not finalised, for this reason no timelines can be offered.
Most of Jagdishpur-Haldia-Bokaro-Dhamra pipeline would be commissioned in Dec’20 and balance by Mar’21. Kochi-Mangalore pipeline would commence functions in Jul’20. Get the job done on Barauni-Guwahati gasoline pipeline has begun. Mumbai-Nagpur-Jharsuguda (capex: Rs 70 billion) and Srikakulam-Angul (Rs 36 billion) are other pipelines to be applied by GAIL.
GAIL’s petrochemical units (shut for 3 months in Apr) are back to 100 for every cent utilisation.
Profit & Loss Statement
Financials
For the quarter ended March 31, 2020, the enterprise noted consolidated sales of Rs 17922.79 crore, up .22 per cent from final quarter sales of Rs 17882.74 crore and down -5.99 for each cent from very last year’s very same quarter sales of Rs 19065.47 crore. The enterprise documented net profit soon after tax of Rs 4157.16 crore in the newest quarter.
Promoter/FII Holdings Promoters held 52.05 per cent stake in the enterprise as of March 31, 2020, when FIIs held 16.30 for each cent, DIIs 26.63 for every cent and community and other 5.02 for every cent.

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