Maharatna Gas Stock Fixes Record Date For Dividend, ICICI Securities Says Buy, TP Rs 116

Board of leading Maharatna status stock, GAIL (India) Ltd today fixed March 21, 2023 as the record date for interim dividend, if approved. The stock rallied 17% in last 6-months. Meanwhile, ICICI Securities has recommended investors to buy Gail (India) with a target price of Rs 116 apiece. Last trading price of Gail (India) is Rs 109.05 apiece with intraday gain of 3.61%. Check details below:

GAIL (India) Sets Record Date For Interim Dividend: According to the BSE filing of GAIL, Pursuant to Regulation 29 and 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, this is to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 13th March, 2023 to, inter-alia, consider the recommendation for payment of Interim Dividend for FY 2022-23. For the purpose of payment of Interim Dividend, if so approved by the Board, the 'Record Date' will be Tuesday, 21st March, 2023."

GAIL (India) Stock Performance & Return: Last trading price of Gail is Rs 109.05 apiece with intraday surge of 3.61%. Its 52-week high is Rs 115.69 apiece and 52-week low is Rs 83.00 apiece, respectively. Its market capitalisation is Rs 71,701.46 crore. It gave 15% in last 1-month, 17% in last 3-months, 5% in last 1-year, and 51% in last 3-years.

GAIL (India) Valuation: According to ICICI Securities, "We do factor in lower margins for the two segments for FY23/24E vs our earlier estimates, leading to earnings and target price downgrades. Valuations remain attractive, underpinning our positive stance despite the weak quarter. Reiterate BUY."

GAIL (India) About: GAIL (India) Limited is India's leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG re-gasification, petrochemicals, city gas, E&P, etc. It owns and operates a network of around 14617 km of natural gas pipelines spread across the length and breadth of country.

The stock has been picked from the brokerage report of ICICI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.