Emkay Global upgrades GAIL to 'buy' with target price of ₹200

Brokerage firm Emkay Global upgraded public sector undertaking GAIL (India) to 'buy' from 'add' on the back of stable core business and earnings outlook.

The brokerage set a target price of ₹200, projecting an upside potential of up to 15.6% supported by improving gas transmission volumes.

GAIL's upcoming petrochemical and urea projects are expected to serve as additional growth drivers and generate assured returns going forward.