GAIL shares plunged over 3 per cent (Photo: Reuters)GAIL shares plunged over 3 per cent (Photo: Reuters)GAIL India shares ended over 1 per cent lower on Monday after Credit Suisse downgraded the stock to "underperform" from "neutral".
Credit Suisse said India's LNG demand has fallen with a drop in oil prices, which has hit GAIL's gas trading business.
It also added that Rasgas prices are linked to 60-month average oil, which is a key drag on its petchem profitability.
GAIL shares closed 1.13 per cent lower at Rs 394.80 on the Bombay Stock Exchange (BSE).
(Reuters)
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