BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Our optimism on GAIL India Ltd. is based on its long-term gas volume growth from Jagdishpur-Haldia and Bokaro-Dhamra Pipeline and sustained revival in gas marketing earnings that could surpass the FY19 peak.
Key concerns include:
potential risk of a reversal in the commodity cycle, which could hurt gas marketing, petchem and liquefied petroleum gas and hydrocarbon segments - combined share at 40% of GAIL’s Ebitda (FY20),
investments in an already crowded polypropylene market and
plans to raise debt of Rs 100 billion for its Rs 467 billion capex.
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