GAIL (India) lost 11.15% to Rs 277 at 15:11 IST on BSE on reports that a foreign brokerage has maintained underperform rating on the stock.
Meanwhile, the BSE Sensex was down 1,526.87 points, or 5.58%, to 25,839.20
On BSE, so far 1.81 lakh shares were traded in the counter, compared with an average volume of 98,659 shares in the past one quarter.
The stock hit a low of Rs 266.30 in intraday trade so far, which is 52-week low for the counter. The stock hit a high of Rs 307.90 so far during the day. The stock hit a record high of Rs 551.35 on 31 October 2014.
The large-cap company has an equity capital of Rs 1268.48 crore. Face value per share is Rs 10.
The foreign brokerage reportedly stated that falling oil prices will hurt GAIL (India)'s petrochemical and LPG business segments.
GAIL (India)'s net profit fell 31.7% to Rs 424.14 crore on 6.7% decline in total income to Rs 12643.86 crore in Q1 June 2015 over Q1 June 2014.
GAIL (India) is India's leading natural gas company with a presence along the entire hydrocarbon value chain spanning E&P, LNG, pipelines, LPG, petrochemicals, city gas distribution etc. The Government of India (GoI) holds 56.11% stake in GAIL (India) (as per the shareholding pattern as on 30 June 2015).
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