GAIL share price today NSE, GAIL share price target, GAIL Q4 results 2024: Is it the right time to buy GAIL shares? Shares of state-owned gas utility GAIL (India) on Friday, May 17 were in the spotlight following global brokerages' reaction a day after the PSU firm reported more than tripling of its fourth-quarter net profit after natural gas transmission and petrochemical business saw a turnaround on Thursday.

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GAIL share price target: Should you buy, sell or hold GAIL shares?

Jefferies has maintained an underperform call on GAIL India with a target of Rs 150. Jefferies stated the following key points in its note:

  • Q4 EBITDA 6 per cent ahead of estimates driven by higher profitability in gas
  • Transmission and Petchem gas trading were below
  • Estimate PAT missed estimates by 15 per cent on higher depreciation  
  • Lower other income transmission volume outlook, trading

JP Morgan has maintained a neutral on GAIL India. The brokerage has raised the target to Rs 184 from Rs 175. Macquarie and Citi have also retained a neutral call each on GAIL India with targets of Rs 165 and Rs 185, respectively. 

Morgan Stanley has continued with an overweight call with a target of Rs 254.

GAIL Q4 results 2024

GAIL reported more than tripling of its fourth-quarter net profit after natural gas transmission and petrochemical business saw a turnaround on Thursday. Its standalone net profit of Rs 2,176.97 crore in January-March - the fourth quarter of 2023-24 - was 261 per cent more than Rs 603.52 crore net profit in the same period last year, according to stock exchange filing by the company.

The net profit was, however, 26 per cent lower than Rs 2,842.62 crore earning in the preceding quarter of October-December.

The year-on-year rise in profit was aided by a turnaround in natural gas transmission and petrochemicals business and an uptick in gas marketing.

Against a loss of Rs 16.41 crore in gas transmission business in January-March 2023, India's largest gas transportation and marketing firm booked a pre-tax profit of almost Rs 980 crore. Also, the petrochemical business had a pre-tax profit of Rs 262.34 crore compared to a loss of Rs 401 crore in the previous year.

Earnings from natural gas marketing jumped to Rs 1,390 crore in January-March 2024 from Rs 487.40 crore a year back. Read more on GAIL Q4 results

GAIL share price BSE

GAIL shares on Friday, May 17 settled at Rs 205, up 4.89 per cent on NSE.

(With PTI inputs)

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