03 March 2012

GAIL (India): Not enough gas in the tank ::Kotak Securities (PDF link)


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http://www.kotaksecurities.com/pdf/indiadaily/indiadaily29022012.pdf

GAIL (India): Not enough gas in the tank
` Lower transmission volumes to reflect decline in domestic gas supply
` Downgrade to ADD with a revised SOTP-based target price of Rs435 (Rs485
previously)
` Revise earnings for lower gas transmission volumes and higher crude prices

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