Reuters logo
3 months ago
BUZZ-India's GAIL hits 2-1/2-yr high, technicals suggest further upside
April 20, 2017 / 6:27 AM / 3 months ago

BUZZ-India's GAIL hits 2-1/2-yr high, technicals suggest further upside

1 Min Read

** Integrated energy company GAIL (India) Ltd rises as much as 4.6 pct to 412 rupees, its highest since Oct 2014

** Stock clears a resistance near the psychological level of 400 rupees tmsnrt.rs/2otWFcA

** Trend intensity indicator (TI) rises to 16 from Wednesday's level of 14, indicating the start of a new uptrend

** MACD is also positive and above its signal line, favorable for the stock

** Compared to broader market, valuations for energy stocks look cheaper; BSE Oil & Gas Index trading at 12 month forward PE of 13, broader NSE Index trading at 20.09

** GAIL is trading at a 12 month forward PE of 14.17

** Break above stock's record high of 413.92 rupees hit on Oct. 31, 2014 will further confirm the upside

RM: gaurav.dogra@.thomsonreuters.com@reuters.net

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below