Shares of state power company are in focus on 6 November. The government stock rose over 6% on Nov 06 after the company reported strong Q2 earnings for FY25. The company's stock touched an intraday high of Rs 209.95 on November 6. Let us tell you that in the September quarter, the net profit of the government company increased by 10% to Rs. 2,689.67 crores.
Global brokerage Jefferies has upgraded its rating on the stock to 'Buy' with a target price of 240. On the other hand, Morgan Stanley maintained an overweight stance on the firm with a target price of 258 for the stock. Let us tell you that the President of India has 3,38,75,76,864 shares of the company. This is equal to 51.92 percent share.
The company said on Tuesday that the decline in the company's marketing margin was offset by an increase in revenue from the gas transmission business and improvement in the petrochemical business.
The company's net profit in the corresponding quarter of last financial year was Rs. 2,442.18 crores. India's largest natural gas company GAIL India Ltd said in a stock exchange filing that its September quarter operating income was Rs. 33,981.33 crore remained almost constant.
GAIL Chairman and Managing Director (CMD) Sandeep Kumar Gupta said the petrochemicals segment is expected to be reasonably profitable in the current financial year.
The company during the September quarter, mainly on pipelines and petrochemicals, posted Rs. 1,885 crore in capital expenditure, taking the total capital expenditure till September 30 to Rs. 3,544 crores.
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