Maharatna PSU stock to buy: MOFSL recommends buying this multi-bagger stock for 2-3 days; check target price

Equity benchmark indexes rallied on Tuesday, with the NSE Nifty reaching a new all-time high during afternoon trade, boosted by purchasing in blue-chip companies, strong global market trends, and foreign fund inflows. The 30-share BSE Sensex advanced 328.54 points to 80,288.92. The NSE Nifty surged 83.45 points to a new record high of 24,404.

Meanwhile, brokerage Motilal Oswal Financial Services Ltd (MOFSL) has recommended buying a multi-bagger PSU stock from a 2-3 days perspective.

Maharatna PSU stock to buy

The brokerage has chosen GAIL (India) as its technical pick for a short-term investment. It has given a target price of Rs 245. The shares of GAIL closed at Rs 230 each on Monday, July 8. This means the share may provide returns of up to 6 per cent from its last closing price.

Today at 1.45 PM IST, GAIL shares were trading 0.30 per cent lower at Rs 229.8 apiece on BSE.

A look at GAIL's Q4FY24 earnings

State-owned gas utility GAIL (India) Ltd reported more than tripling of its fourth-quarter net profit after natural gas transmission and petrochemical business saw a turnaround.

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 earnings in the preceding quarter of October-December.

(Disclaimer: The stock investment advice given here is given by the brokerage house. These are not the views of Zee Business. Consult your advisor before investing.)

GAIL share price history

This stock has shown a rise of around 4 per cent in a week. The stock's return in the last year has been around 110 per cent. The stock's return in 6 months was 42 per cent and so far this year it was 38 per cent. The stock has jumped about 12 per cent in 3 months. The 52-week high of the share on BSE is 234.15 and the low is 107.55. The market cap of the company is more than Rs 1.51 lakh crore.