The shares of GAIL (India) Limited were trading 1.5 per cent up at Rs 136 levels in the early trading hours on Tuesday. The stock remained volatile last week and has gained approximately 3.8 per cent in the last five days. However, in a month the stock has shed 7 per cent. 

So far this year, the stock has gained approximately 3.5 per cent YTD. On a yearly basis, the stock was highly volatile and shed more than 6 per cent of its value. 

The Board of Directors of the company has approved the bonus issue of shares. The bonus shares will be issued in the ratio of 1:2 i.e. one new bonus equity share of Rs. 10/- each for every two existing equity shares of Rs. 10/- each held. For this purpose, the record dates have been fixed as September 7th, 2022. 

In Q1FY23, the company reported total revenue of Rs 37,896 crores, up 115 per cent from Rs 17,571 crores which it earned in the same period a year ago. In the previous quarter, the company earned Rs 27,295 crores. 

In the quarter under review, GAIL India earned a total net profit of Rs 2,923 crores which is an increase of 70 per cent from Rs 1,727 crores which it earned in Q1FY22. On a sequential basis, their net profit declined by 4 per cent from Rs 3,048 crores. 

ICICI Direct has a ‘Buy’ call on GAIL (India) with a target price of Rs 160 which represents an upside of 19 per cent from the current levels. 

Maharatna GAIL (India) Limited has a variety of operations in trading, transmission, LPG production and transmission, LNG regasification, petrochemicals, city gas, E&P, and other areas of the natural gas value chain. It is the largest natural gas firm in India. 

The stock has a market capitalization of Rs 58,715 crores and a dividend yield of 7.47%. The promoters hold a 51.89% stake in the company with zero shares pledged. 

Written by – Anoushka Roy


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