Technical Analyst Salil Sharma has maintained 'buy' rating on Gail stock to achieve an intraday target of Rs 440.

According to him, interested traders can purchase the stock with a stop loss of Rs 420.

The shares of the company, on May 11, closed at Rs 425.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 459.40 and a low of Rs 260 on BSE.

Current EPS & P/E ratio stood at 22.54 and 19.13 respectively.

The company is ready to double up its transmission capability in the coming years. Moreover, the administration has also given nod to the pricing new expanded pipeline that will come up in the coming months. This will benefit the company. So presently, GAIL looks like a good bet.

GAIL India Ltd, on Tuesday, has given approval to Vadodara Municipal Corporation (VMC) for supplying additional gas to the city.

This will increase the total number of gas connections in the city.

In this way, the civic body projects to offer up 10,000 gas connections in Vadodra in the next 30 days period.

A meeting, which was led by VMC commissioner M K Das and GAIL CMD B C Tripathi took place in the national capital to investigate a range of matters comprising supply of gas and and the JV between civic body and the company.