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Emkay Global upgrades GAIL (India) to buy on higher upside potential
The firm set a target price of ₹200 for GAIL (India), implying up to 15.6% upside from current levels.
LiveMint Markets reports that Emkay Global upgraded GAIL (India) to a buy rating from add, citing a steady core business and earnings outlook alongside valuation support.
The brokerage set a target price of ₹200, which it said offers upside potential of up to 15.6%.
Emkay Global expects GAIL’s gas transmission volumes to improve quarter-on-quarter, potentially exceeding the company’s FY27 guidance of 123 mmscmd, supported by continued structural growth in gas transmission volumes and a higher share of volumes in higher-tariff bid pipelines.
In its view, India’s gas demand improved sequentially in 2QFY27 despite the Strait of Hormuz crisis and elevated LNG prices, with July-August 2026 demand declining only 2% year-on-year; it also expects FY27 guidance of ₹40-45 billion could deliver a beat, supported by stable Henry Hub settlement prices and strength in crude oil and spot LNG prices.
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