May 23, 2017 / 4:26 AM / 4 months ago

BUZZ-India's GAIL hits over three-month low on Q4 profit drop

** Shares of state-run GAIL (India) Ltd fall as much as 5.8 pct to their lowest since Feb 15

** Company posted a 69 pct fall in Q4 profit on Monday, on account of impairment charge on an investment

** “We remain cautious on GAIL on account of significant long-term LNG contracts, which are expensive relative to spot prices, and are likely to remain an overhang for some time,” analysts at Jefferies write

** Stock posts biggest intraday pct loss since Jan 15, 2016

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