Technical analyst Hitesh Chothalia is of the view that investors can buy GAIL (India) Ltd stock for short term target of Rs 465.

According to Chothalia, the investors will buy the stock at current levels with a stop loss of Rs 410.

Today, the shares of the company opened at Rs 422 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 459.40 and a low of Rs 247 on BSE.

Current EPS & P/E ratio stood at 22.54 and 18.62 respectively.

State-run GAIL (India) Ltd has dcided to make entry into the electricity business by constructing power facilities along its extensive gas pipeline network.

The company’s chairman and managing director B.C. Tripathi did not give further details.

Despite the legal tangle surrounding the award of city gas licenses, GAIL India is going ahead with its plans to launch networks in 4 cities it gained in bidding during 2009.

GAIL subsidiary GAIL Gas had bagged four out of the six cities put under the hammer by PNGRB in March 2009.

M Ravindran, CEO of GAIL Gas, said that the company initiated rolling out networks in these four cities around 8-months back.

Moreover, the wholly owned subsidiary of GAIL (India) Ltd, GAIL Gas Ltd is eyeing to make Rs 150 crore in profits by 2010 by strengthening its network of natural gas distribution in cities.