Stocks to Buy: Brokerage Bullish on this PSU stock under ₹100, BUY advice; Next Target?

Stocks to buy: Shares of Oil and Gas sector company Gail India gained more than 2 per cent in early trade on Tuesday (January 31). The company released its third quarter (Q3FY23) results on Monday. Due to supply issues, the net profit of the company has decreased by 93 percent (YoY). However, operational revenue has increased by 37 percent. After the results, the stock of brokerage house GAIL is looking bullish. Most brokerages have given buy advice on the stock.

GAIL: What is the brokerage's view

Stocks to Buy: Brokerage Bullish on this PSU stock under ₹100, BUY advice; Next Target?

CLSA has a buy recommendation on GAIL. Along with this, the target price has been increased from Rs.105 to Rs.110. Citi has raised the rating on GAIL to 'Buy' from 'Neutral'. Target price has been raised from Rs 95 to Rs 110. The brokerage says that the results in all the segments have been weaker than expected, but can show bottom out in earnings. Regulatory decisions will be supported. The management expects clarity on increasing the tariff in the next 3-4 months.

Macquarie has maintained 'Outperform' rating on GAIL. Also, the target price has been reduced from Rs 140 to Rs 125. Jefferies has given a hold rating on the stock. The target has been kept at Rs 90 per share.

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Domestic brokerage firm Motilal Oswal has advised to buy on GAIL stock with a target of Rs 115 after the results. The brokerage says that margins have been affected due to gas price volatility and problems in LNG supply. ICICI Securities has advised buy on the stock. However, the target has been reduced from 127 to 116.

GAIL: 32% can be returned:

Macquarie has the highest bullish target of Rs 125 on Gail India. On January 30, 2023, the share price closed at Rs.95. In this way, from the current price, further returns of about 32 percent can be seen in the stock. The stock's returns have been almost flat in the last one year.

Talking about the December 2022 quarter results, Gail India's net profit declined by 93 per cent to Rs 246 crore from Rs 3288 crore in the same quarter a year ago. GAIL's revenue from operation jumped by more than 37 percent to Rs 35,380 crore.

 Disclaimer: The advice given here to invest in stocks is given by a brokerage house. Before investing, consult your advisor.

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