GAIL (India) extends Wednesday's gains

GAIL (India) rose 1.53% to Rs 351.60 at 12:32 IST on BSE, with the stock extending Wednesday's 0.35% gains triggered by the company reporting strong Q3 earnings.

Meanwhile, the S&P BSE Sensex was down 216.54 points or 1.05% at 20,430.76.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 78,493 shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.51% at the day's high of Rs 355 so far during the day. The stock lost as much as 1.79% at the day's low of Rs 340.10 so far during the day. The stock had hit a 52-week high of Rs 359.40 on 29 January 2013. The stock had hit a 52-week low of Rs 273 on 28 August 2013.

The stock had outperformed the market over the past one month till 29 January 2014, rising 1.7% compared with the Sensex's 2.58% fall. The scrip had also outperformed the market in past one quarter, advancing 0.13% as against Sensex's 1.35% fall.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

Shares of GAIL (India) have risen 1.88% in two trading sessions from Rs 345.10 on 28 January 2014, after the company during trading hours on Wednesday, 29 January 2014 reported strong Q3 December 2013 earnings. The stock had risen 0.35% to settle at Rs 346.30 on Wednesday, 29 January 2014.

GAIL (India)'s net profit surged 30.7% to Rs 1679.40 crore on 28.1% growth in net sales to Rs 15980.62 crore in Q3 December 2013 over Q3 December 2012.

There was an exceptional income of Rs 344.95 crore in Q3 December 2013 on account of profit on sale of long term investments.

GAIL (India)'s subsidy sharing burden declined 99.81% to Rs 1.32 crore in Q3 December 2013 over Q3 December 2012.

Meanwhile, GAIL (India) after trading hours on Wednesday, 29 January 2014, said that a meeting of the Board of Directors of the company will be held on 6 February 2014, inter alia, to consider proposal of interim dividend for the year ending 31 March 2014 (FY 2014). The company has fixed 11 February 2014 as the record date for the purpose of payment of interim dividend, if so approved by the board.

GAIL (India) is India's flagship gas transmission and marketing company with global footprints. The Government of India (GoI) holds 57.34% stake in GAIL (India) (as per the shareholding pattern as on 31 December 2013).

Powered by Capital Market - Live News