GAIL (India) fell 0.70% to Rs 424.85 at 13:05 IST on BSE after foreign brokerage downgraded the stock to "underperform".
Meanwhile, the BSE Sensex was up 39.41 points, or 0.14%, to 28,114.96.
On BSE, so far 91,000 shares were traded in the counter, compared with an average volume of 1.86 lakh shares in the past one quarter.
The stock hit a high of Rs 426.80 and a low of Rs 419.75 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 340.10 on 30 January 2014.
The stock had underperformed the market over the past one month till 15 January 2015, rising 1.33% compared with 2.77% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.42% as against Sensex's 6.55% rise.
The large-cap company has an equity capital of Rs 1268.48 crore. Face value per share is Rs 10.
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The brokerage said GAIL (India) stock price does not reflect adverse impact of lower crude prices on earnings.
GAIL (India)'s net profit surged 42.3% to Rs 1302.90 crore on 0.9% growth in net sales to Rs 14063.18 crore in Q2 September 2014 over Q2 September 2013.
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 30 September 2014).
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