GAIL’s Strong Performance Expected In Q4; Biggest Candidate For Re-Rating: Motilal Oswal
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Motilal Oswal Report
GAIL India Ltd. reported in line Ebitda, weighed by - in line performance of transmission business (natural gas and liquefied petroleum gas), while a much smaller loss in trading segment was largely offset by outstanding performance of the petrochemical business.
Petchem margins have improved QoQ on the back of improved product prices, led by strong demand from downstream manufacturers. The uptrend in petchem margins continues in Q4FY21’to-date.
However, these multi-year high margins would normalize with the increasing supply glut, especially due to additions from China.
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