Accumulate GAIL (India); target of Rs 482: Prabhudas Lilladher
Prabhudas Lilladher’s research report on GAIL (India)
We leave our FY20/21E earnings unchanged as we have baked in conservative assumptions. We expect GAIL to benefit from likely implementation of unified pipeline tariff.
However, we expect GAIL’s capex trajectory to pick up as all businesses ex-pipeline operate at near peak levels. Attractive valuation makes GAIL a “BUY” with DCF-based PT of Rs482.
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