Stock market analyst Hitendra Vasudeo has suggested investors to 'sell' GAIL stock as there are full chances of a downward trend in this stock in the coming days.

According to Mr. Vasudeo, investors can sell the stock between Rs 297.40-Rs 304.60 with a strict stop loss of Rs 310 to achieve a target that lies between Rs 284.70-Rs 264.80.

Today (June 09), the stock opened at Rs 294 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 22.83 and 12.59 respectively. The share price has seen a 52-week high of Rs 317 and a low of Rs 165 on BSE.
 
Mr. Vasudeo also suggested that it’s advantageous to sell the stock at the said level as the counter is under huge pressure.

He also said that if the stock fell below Rs 260, it may fell further.  

After selling the stock, the interested investors can purchase the stock again at a low price, for medium term prospective to make good profits.

On June 03, GAIL Gas Ltd., a wholly owned unit of GAIL (India) Ltd., has decided to lift a combined Rs 3 billion ($64 million) in debt from nationalized banking institutions and a government-backed lending agency to introduce a gas-distribution network in four cities.

Taking full advantage of around 50% fall in steel costs, oil firms are redrawing major pipeline orders to lessen the costs of projects. With plans to invest Rs 20,000 crore in strengthing its pipeline network by the next three years, GAIL would be the biggest beneficiary.

In 2008, GAIL saved Rs 470 crore by re-tendering a section of the Vijaipur-Dadri-Bawana pipeline when steel costs started declining.

Gas Authority of India (GAIL), in May 2009, had said that it would supply gas to Barauni fertiliser plant and its 250-300 MW power plant at Bettiah via its 1,400 km Jagdishpur-Haldia pipeline by the next three years.

GAIL (India) and Infrastructure Development Department (IDD) Karnataka on April 29 entered into a Gas Co-operation deal in Bangalore.

Dr. U. D. Choubey, CMD GAIL stated that the deal between the two companies to expand the natural gas distribution and city gas infrastructure, to extend the use of environment-friendly fuels, especially Natural Gas/CNG/PNG/R-LNG and to promote a Joint Venture (JV) for domestic, industrial and transport sectors in the state of Karnataka.