GAIL India Top Nifty Gainer; Goldman Sachs, CLSA Maintain 'Buy' Call

GAIL India in today's weak market gained up to 4 percent to day's high price of Rs. 137.8 per share on the NSE. On the nifty index, the oil drilling and exploration company ranked as the top gainer. In fact, Nifty Energy index was down 0.29% at the time of writing this copy, owing to drag from stocks like Power Grid, Reliance, NTPC, BPCL and ONGC.

GAIL India Top Nifty Gainer; Goldman Sachs, CLSA Maintain 'Buy' Call

Meanwhile, global brokerage firm Goldman Sachs has given its buy call on the scrip of GAIL with a target price of Rs. 180 per share, implying an upside of 30 percent from current levels. 'GAIL India will be a beneficiary of disruption-led strength in PE prices, while cyclical recovery in prices from supply lagging demand will help', noted Goldman Sachs.

Another global research entity CLSA has also iterated its 'Buy' stance on GAIL scrip with a target of Rs. 170 per share. The positive leverage to crude prices is possibly being ignored and despite favourable tailwinds, the company trades at a core PE of just 7.1x, a leading business quoted CLSA as saying.

There was a structural growth in pipeline gas volumes and sequential growth was expected to continue with 20 percent EBITDA growth QoQ in Q4, reported the business channel.

GAIL India is the country's flagship natural gas company with all the functionalities of the natural gas value chain integrated.

At 12:44 pm, the stock of GAIL India quoted higher by 3.89% at Rs. 137.5 per share.

GoodReturns.in