GAIL (India) fell 1.24% to Rs 394.85 at 12:00 IST on BSE, with the stock extending previous sessions' 3.08% losses triggered by the foreign brokerage reportedly maintaining underperform rating on the stock.
Meanwhile, the BSE Sensex was down 520.29 points, or 1.87%, to 27,291.70.
On BSE, so far 12,014 shares were traded in the counter, compared with an average volume of 94,700 shares in the past one quarter.
The stock hit a high of Rs 399.70 and a low of Rs 393 so far during the day. The stock hit a record high of Rs 551.35 on 31 October 2014. The stock hit a 52-week low of Rs 354 on 28 April 2015.
The stock had outperformed the market over the past one month till 26 June 2015, rising 2.96% compared with 1.02% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 4.71% as against Sensex's 1.29% gain.
The large-cap stock has an equity capital of Rs 1268.48 crore. Face value per share is Rs 10.
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The foreign brokerage reportedly said that the liquified natural gas (LNG) prices will remain weak and GAIL India's long-term earnings outlook looks weak.
GAIL (India)'s net profit fell 47.5% to Rs 510.75 crore on 3% decline in total income to Rs 14529.95 crore in Q4 March 2015 over Q4 March 2014.
GAIL (India) is India's leading natural gas company with a presence along the entire hydrocarbon value chain spanning E&P, LNG, pipelines, LPG, petrochemicals, city gas distribution etc.
The Government of India (GoI) holds 56.11% stake in GAIL (India) (as per the shareholding pattern as on 31 March 2015).
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