Enam Securities puts 'upgraded' on GAIL

CMP: Rs 287.50
Target price: Rs 302
GAIL is an outperformer vis-a-vis its peers at Enam Securities with an ‘upgraded’ price target of Rs 302 against Rs 265 earlier. Explaining the rationale behind the positive outlook, the brokerage said, “GAIL gas volumes are likely to increase to 132 mmscmd by FY11 on account of higher gas supply by RIL and PLNG. Also, oil sector reforms related to subsidy could be a trigger.”

Enam estimates the company’s earnings per share for 2009-10 at Rs 24.4 against Rs 22.1 in 2008-09. In 2010-11, GAIL’s EPS is estimated at Rs 26.4 - Economic Times

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Intraday Tips and Market outlook for 17th March.

US markets ended negative.
Europe ended positive.
Asia has opened mixed.
Indian Markets are expected to open lower.
The support for the Sensex is 8725 and the resistance to the up move is at 9065-9140
Nifty: (2617) the support for the Nifty is at 2539 and the resistance to the up move is at 2677-2704

Day Trading Ideas -

IFCI
Buy above 18.10 for targets of 18.65 and 19.20
Sell below 16.90 for targets of 16.45 and 16.10

RNRL
Buy above 44.90 for targets of 45.50 and 46.25
Sell below 42.20 for targets of 41.55 and 40.10

GAIL
Buy above 222.10 for targets of 223.25 and 224.50
Sell below 218.40 for targets of 217.10 and 216.05

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