Though there is high selling in the equity market the share price of GAIL India moved up by 4 percent.
The Sensex declined by 0.84 percent and Nifty went down by 99.20 points. Yet, the shares performed well on the Nifty index.
The benchmark index of BSE dropped to 49743.93. That is, 392.65 points went down in the Sensex.
On the other hand, the Nifty index slipped by 0.4 percent due to Adani Green, Power Grid, ONGC, and BPCL.
Few big firms suggest buying with a target range lying between Rs 170-180 per share.
The share price of GAIL India on 1200 hours was Rs 137.35. The intraday high was Rs 137.80 and the intraday low was 133.20.
The government-led company started its operation in 1984. The headquarters of the company locates in New Delhi.
The business segments involve natural gas, LPG, petrochemical, etc.
Currently, the price-to-earnings ratio of the company is high. This indicates that the investors are ready to pay a high price for the share. The performance and growth of the company lead the investors to expect higher returns in the future. Hence, the willingness to pay a higher amount exists among the investors.
As per the data of December 31, 2020, the promoters have a shareholding of 51.76 percent. Whereas, FII holds 15.51 percent and DIIs have a stake of 9.79 percent.
Furthermore, the consolidated income as of December 31, 2020, was Rs 15882.82 Crore. This is 12.71 percent more than the last quarter.
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