{"id":356566,"date":"2020-06-10T11:07:35","date_gmt":"2020-06-10T05:37:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=356566"},"modified":"2020-06-10T11:58:55","modified_gmt":"2020-06-10T06:28:55","slug":"nomura-lowers-gail-rating-prefers-ril-in-oil-gas-sector","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nomura-lowers-gail-rating-prefers-ril-in-oil-gas-sector\/","title":{"rendered":"Nomura lowers GAIL rating, prefers RIL in oil &amp; gas sector"},"content":{"rendered":"<p>Mumbai: Nomura has downgraded its rating on GAILNSE -3.26 % India to \u2018reduce\u2019 from \u2018buy\u2019 and cut the target price to 85 from 140 citing double whammy of low prices and demand destruction. The brokerage prefers Reliance Industries in India\u2019s oil and gas sector.<\/p>\n<p>It said a sharp decline in oil prices has weakened GAIL\u2019s earnings outlook, while the prolonged lockdown because of Covid-19 has weakened the demand outlook.<\/p>\n<p>The brokerage expects India\u2019s gas consumption to decline around 25 per cent in the June quarter and 11 per cent in FY21. It believes there will be a longer-term impact as demand may not recover entirely in several segments and new fertiliser or city gas projects are likely to get delayed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: Nomura has downgraded its rating on GAILNSE -3.26 % India to \u2018reduce\u2019 from \u2018buy\u2019 and cut the target price to 85 from 140 citing double whammy of low prices and demand destruction. The brokerage prefers Reliance Industries in India\u2019s oil and gas sector. It said a sharp decline in oil prices has weakened GAIL\u2019s earnings outlook, while the prolonged lockdown because of Covid-19 has weakened the demand outlook. The brokerage expects India\u2019s gas consumption to decline around 25 per cent in the June quarter and 11 per cent in FY21. It believes there will be a longer-term impact as [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-356566","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=356566"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356566\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=356566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=356566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=356566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}