GAIL (India) Ltd reported a 56% rise in standalone profit for the quarter ended September 2023 on Tuesday. Net profit rose to Rs 2405 crore in Q2 against profit of Rs 1537.07 crore in the September 2022 quarter. However, GAIL's total revenue fell 17.32% to Rs 31,822.62 crore in Q2 against Rs 38490.89 crore in the corresponding period of the preceding fiscal.
ICICI Direct has picked GAIL as its top gladiator pick. The brokerage has recommended a buying range of ₹125-129 for the stock with a target of ₹146 (upside 12 percent) and a stop loss of ₹117. The time duration for the recommendation is 3 months.
The large-cap stock has delivered more than 100 per cent return to its shareholders in the last 12 months. In the past one year, the share price jumped from Rs 54.7 to Rs 112.45 mark logging around 105 per cent return in this period.
Shares of Steel Authority of India (SAIL) closed nearly 4% higher today after shareholding data show ace investor Rakesh Jhunjhunwala raised his stake in the PSU stock for the quarter ended September. The news of big bull adding the stock to his portfolio pushed it in the green after 5 days of consecutive fall.