Morgan Stanley has reiterated its overweight rating on GAIL, setting a target price of ₹258, indicating a 31% upside from the current market price of ₹196.80. GAIL reported a 19% integrated return on equity (RoE) for its gas pipeline segment, with volume growth benefiting from the rising domestic gas penetration.
Morgan Stanley highlighted multiple re-rating triggers for GAIL, given its attractive valuation at 1.2x FY26 estimated price-to-book ratio and the continued expansion of gas infrastructure in India. The brokerage remains optimistic about the stock’s potential for growth, supported by these favorable trends.
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