GAIL India Ltd (GAIL) shares saw a rise of over 2% following a positive update from Jefferies. The brokerage has reiterated its ‘Buy’ rating on GAIL with a revised target price of ₹235, down from ₹240.
The investment firm sees strong growth for GAIL, driven by rising domestic natural gas demand, new production initiatives, long-term LNG contracts, and expanding pipeline infrastructure. Two key pipeline projects, set to be completed by FY26, are expected to boost transmission volumes.
Jefferies also anticipates a potential tariff hike by March 2025 and strong trading profitability in the second half of FY25, driven by favorable market conditions. With an expected 9% EBITDA CAGR from FY24 to FY27, GAIL is well-positioned to capitalize on India’s energy transition.
GAIL shares opened at ₹201.60, reaching a high of ₹204.95 and a low of ₹201.37. The stock is currently trading near its 52-week high of ₹246.30 and well above its low of ₹134.85.
As of 10:03 am, GAIL shares were trading 2.36% higher at Rs 204.70 on the NSE.
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