Indiainfoline Gail tumbles 2.7% after brokerage downgrade
The brokerage house Credit Suisse has maintained its underperform rating on Gail India saying that company’s long-term earnings outlook looks weak as LNG prices will remain weak.
Gail (India) is trading lower on the BSE, after a foreign brokerage house maintained its ‘underperform’ call on the stock. According to media reports, the brokerage house Credit Suisse has maintained its underperform rating on Gail India saying that company’s long-term earnings outlook looks weak as LNG prices will remain weak. The stock is now down 2.7 percent at Rs. 401. The BSE counter has seen trades of around 30,000 shares, as against two-week daily average volume of 161,000 shares. Meanwhile, the Sensex has shed 86 points at 27,810.
