External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Our BUY recommendation on GAIL with a target price of INR 145 is based on (1) an increase in gas transmission volume to 129mmscmd by FY25 on the back of an increase in domestic gas production, (2) completion of major pipelines in eastern and southern India, and (3) expectation of improvement in earnings from the petchem segment</li><li>Q2FY24 reported EBITDA/PAT at INR 35/24bn, came in above our estimates, driven by an improvement in natural gas transmission volumes and higher marketing margins</li><li>Depreciation at INR 7.5bn (+21% YoY, +18% QoQ) came above expectation.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Our BUY recommendation on GAIL with a target price of INR 145 is based on (1) an increase in gas transmission volume to 129mmscmd by FY25 on the back of an increase in domestic gas production, (2) completion of major pipelines in eastern and southern India, and (3) expectation of improvement in earnings from the petchem segmentQ2FY24 reported EBITDA/PAT at INR 35/24bn, came in above our estimates, driven by an improvement in natural gas transmission volumes and higher marketing marginsDepreciation at INR 7.5bn (+21% YoY, +18% QoQ) came above expectation.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gail (Q2FY24): Transmission and Trading Segments Outperform. Maintain BUY

Gail India

Gail (Q2FY24): Transmission and Trading Segments Outperform. Maintain BUY