GAIL is trading about 16 per cent lower from its highs in August. Falling crude oil price has been a dampener and took a toll on the company’s profitability; it also raised concerns on the placement of high-priced LNG contracts.
During the previous quarter, the company continued to put up a good show in the natural gas marketing segment but there was disappoint in the petchem segment’s profitability. Analysts believe lower oil prices will impact performance in LPG/liquid hydrocarbons and petchem segments. ICICI Securities has already reduced the petchem ...
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