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Gas Authority of India - GAIL (Emkay) Lower subsidy sharing drives profitability |
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Higher performance from natural gas trading and transmission segment drives revenue and profitability in Q1FY12;Transmission volume declined by 2.8% to 117.1mmscmd due to shutdown in five fertilizer plants;Subsidy payout to be higher than previous year | Date | Rating | Target Price | Recommendation Price | Broker house | | 28 Jul 2011 | accumulate | 510 | 458 | Emkay Report | |
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Gas Authority of India - GAIL (Angel) Natural gas trading segment drives GAIL’s top-line growth |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 28 Jul 2011 | accumulate | 508 | 459 | Angel Report | |
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Gas Authority of India - GAIL (Credit Suisse) All-round pressure on volumes |
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GAIL numbers reflect petchem weakness;Transmission volumes hurt by customer closures;No more gas? | Date | Rating | Target Price | Recommendation Price | Broker house | | 28 Jul 2011 | outperform | 557 | 458 | Credit Suisse Report | |
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Gas Authority of India - GAIL (Deutsche Bank) Q1FY12 result: Beats estimate on lower subsidy burden |
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GAIL reports net profit of INR9.8bn; +11% YoY and 26% QoQ;Marketing margin on LNG and lower subsidy burden compensates for underperformance in petrochemicals segment;Maintain Hold with INR500 target price | Date | Rating | Target Price | Recommendation Price | Broker house | | 28 Jul 2011 | hold | 500 | 458 | Deutsche Bank Report | |
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Gas Authority of India - GAIL (Citi) 1Q – In Line, Though Volumes Disappoint |
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1Q in line;Gas vols decline to 117 mmscmd; mktg margins up;Petchem impacted by weak demand;Prefer GSPL among gas transporters | Date | Rating | Target Price | Recommendation Price | Broker house | | 27 Jul 2011 | buy | 502 | 458 | Citi Report | |
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Gas Authority of India - GAIL (Sharekhan) Healthy performance; in line with expectations |
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Apple Green
Results broadly in line of our expectations
Healthy sales growth YoY contributed by NG trading but flat QoQ growth due to lower petrochem volume
Operating profit margin, a mixed show | Date | Rating | Target Price | Recommendation Price | Broker house | | 27 Jul 2011 | buy | 567 | 458 | Sharekhan Report | |
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Gas Authority of India - GAIL (Motilal Oswal) In the midst of its longest and biggest capex cycle |
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Concerns remain on under-utilization of the new capex;Volume growth delayed; medium-term profitability to be under pressure;Long-term prospects intact but contingent on multiple factors;Upsides constrained in near-term, but limited downside provides some respite | Date | Rating | Target Price | Recommendation Price | Broker house | | 21 Jun 2011 | neutral | 450 | 434 | Motilal Oswal Report | |
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GAIL (Citi) Analyst Meet Takeaways |
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Expect gas vols to rise to c135 mmscmd by this year;Dabhol LNG terminal to commence by 1QCY12;Moderate pipeline delays;Petchem expansion commissioned; further expansions on course;City gas – meaningful medium-term growth driver | Date | Rating | Target Price | Recommendation Price | Broker house | | 3 Jun 2011 | buy | 502 | 447 | Citi Report | |
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GAIL (credit suisse) GAIL management optimistic (as always) at the annual investor meet in Mumbai |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 3 Jun 2011 | out perform | 557 | 452 | credit suisse Report | |
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GAIL (Deutsche Bank) Adding capacity, but short of gas |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 2 Jun 2011 | hold | 480 | 447 | Deutsche Bank Report | |
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