India's GAIL rises as Nomura expects boost from rising oil prices

Petronet LNG

15/04/2024 11:30

** Shares of GAIL (India)  GAIL.NS  closed up 1.3% at 203.70
rupees
    ** Nomura says higher oil prices to benefit GAIL's LPG
production segment, underpinned by higher realizations
    ** Oil prices elevate on Middle East conflict escalation
 O/R 
    ** Nomura says $5/bbl rise in oil prices will lift GAIL's
EBITDA to 18.4 bln rupees from its previous est. of 12.7 bln
rupees for FY25
    ** Also, India restarts gas-based power plants to meet
summer electricity demand; this is expected to offer a boost to
GAIL, Petronet LNG  PLNG.NS  and NTPC  NTPC.NS 
    ** Petronet and NTPC stocks closed marginally down
    ** GAIL has gained 25.7% YTD, compared with Petronet's 37%
jump and NTPC's 16.1% rise

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))