Shares of GAIL India rose on strong Q4 results. The stock jumped as much as 3.7 per cent to Rs 321.1, biggest intraday percentage gain since May 7.
The company had reported a near four-fold rise in March-quarter net profit on Thursday, but missed analysts' estimates.
UBS has reiterated “buy” with a price target of Rs 400. “Performance of petchem and LPG businesses should improve with higher production and rising oil prices and we expect consolidated profit growth of nearly 40 per cent in FY19,’’ it says.
Of 35 analysts covering the stock, 23 rate it “buy” or higher, 9 “hold” and 3 “sell” or lower; their median price target is Rs 397.50.