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GAIL (India) slips on reports of brokerage sell rating

Capital Market 

GAIL (India) lost 1.44% to Rs 369.95 at 14:35 on on reports a foreign brokerage has maintained sell rating on the stock for a target price of Rs 347.

Meanwhile, the S&P Sensex was down 52.44 points or 0.18% at 29,466.30.

On the BSE, 6.15 lakh shares were traded on the counter so far as against the average daily volumes of 3.72 lakh shares in the past one quarter. The stock had hit a high of Rs 374.35 and a low of Rs 366.60 so far during the day.

The stock had hit a 52-week high of Rs 400.80 on 8 March 2017 and a 52-week low of Rs 251.44 on 6 April 2016. The stock had underperformed the market over the past one month till 20 March 2017, declining 4.49% compared with the Sensex's 2.99% rise. The scrip had, however, outperformed the market over the past one quarter, rising 16.75% as against the Sensex's 12.2% rise.

The large-cap company has equity capital of Rs 1691.30 crore. Face value per share is Rs 10.

GAIL (India)'s net profit rose 45.4% to Rs 982.92 crore on 9.4% decline in net sales to Rs 12107.89 crore in Q3 December 2016 over Q3 December 2015.

GAIL (India), India's largest natural gas company, is one of the seven Maharatna Public Sector Undertakings (PSUs). Government of held 56.11% stake in the firm as per the shareholding pattern as on 31 December 2016.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 21 2017. 14:26 IST