GAIL (India) scales record high after declaring strong Q2 result

GAIL (India) jumped 6.76% to Rs 544.10 at 14:30 IST after net profit surged 42.28% to Rs 1302.90 crore on 1.36% growth in total income to Rs 14418.53 crore in Q2 September 2014 over Q2 September 2013.

The result was announced during market hours today, 31 October 2014.

Meanwhile, the S&P BSE Sensex was up 406.60 points or 1.49% at 27,752.93

On BSE, so far 4.81 lakh shares were traded in the counter as against average daily volume of 83,656 shares in the past one quarter.

The stock was volatile. The stock hit a record high of Rs 551.35 in intraday trade today, 31 October 2014. The stock hit a low of Rs 510.05 so far during the day. The stock hit 52-week low of Rs 310 on 18 November 2013.

The stock had outperformed the market over the past one month till 30 October 2014, rising 13.55% compared with 2.69% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 17.66% as against Sensex's 4.83% rise.

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

GAIL (India) is India's flagship gas transmission and marketing company with global footprints. The Government of India (GoI) holds 56.11% stake in GAIL (India) (as per the shareholding pattern as on 30 September 2014).

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