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    GAIL   INE129A01019

GAIL INDIA LIMITED

(GAIL)
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Indian shares slip from record peaks as Reliance drags

06/09/2021 | 06:42am EDT

BENGALURU, June 9 (Reuters) - Losses in energy and financial stocks pulled Indian shares down from record highs on Wednesday, with investors cautious ahead of key U.S. inflation data due later in the week.

The blue-chip NSE Nifty 50 index closed 0.67% lower at 15,635.35 after earlier hitting an all-time high, while the benchmark S&P BSE Sensex fell 0.64% to 51,941.64.

For the year, the Nifty is still up around 12% and the Sensex has gained 9%, even as the second wave of COVID-19 battered the country.

"Valuations are not cheap, if we don't see a shakeout and some correction in the market, the upward momentum won't sustain itself," said Neeraj Dewan, director at New Delhi-based Quantum Securities.

Dewan added investors were also on the sidelines ahead of U.S. inflation data and a key meeting of the European Central bank on Thursday.

U.S. consumer price data could offer clues on the Federal Reserve's stance on tapering monetary stimulus, which could ultimately impact the flow of foreign funds into emerging markets such as India.

In Mumbai trading, Reliance Industries, India's largest listed company by market value, slid 1.8% and was the top drag on the indexes.

The Nifty Bank index slipped 0.8% to its lowest in nearly two weeks.

Gas marketing firm GAIL declined 3.2% after reporting a drop in quarterly profit and revenue.

Power utilities were the bright spot, with Nifty 50-component Power Grid Corp of India jumping 3.4%.

Tata Power climbed 6.5% after the antitrust watchdog cleared its acquisition of stakes in power utility companies in the Odisha state. (Reporting by Chris Thomas and Chandini Monnappa in Bengaluru; Editing by Aditya Soni)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GAIL INDIA LIMITED -1.26% 153.35 Delayed Quote.26.00%
NIFTY 50 -0.54% 15686.95 Delayed Quote.12.81%
NIFTY BANK -0.36% 34574 Delayed Quote.11.13%
POWER GRID CORPORATION OF INDIA LIMITED -0.77% 232.2 End-of-day quote.22.34%
RELIANCE INDUSTRIES LTD -0.92% 2205.35 Delayed Quote.12.11%
SENSEX 30 -0.54% 52306.08 Real-time Quote.10.13%
THE TATA POWER COMPANY LIMITED -0.49% 120.8 End-of-day quote.59.68%
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Financials
Sales 2021 592 B 7 970 M 7 970 M
Net income 2021 45 956 M 618 M 618 M
Net Debt 2021 58 014 M 781 M 781 M
P/E ratio 2021 15,3x
Yield 2021 2,71%
Capitalization 690 B 9 272 M 9 278 M
EV / Sales 2021 1,26x
EV / Sales 2022 1,02x
Nbr of Employees 4 682
Free-Float 41,2%
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Technical analysis trends GAIL INDIA LIMITED
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Consensus
 
Mean consensus -
Number of Analysts
Last Close Price 155,30 
Average target price
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EPS Revisions
Managers and Directors
NameTitle
Manoj Jain Chairman, MD & Director-Human Resources
A K Tiwari Chief Financial Officer & Finance Director
Anil Kumar Jha Secretary & Compliance Officer
Banto Devi Kataria Independent Director
Mahesh V. Iyer Executive Director & Director-Business Development
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