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GAIL falls; lower crude to weigh on petchem, LPG realisations

Reuters

Reuters Market Eye - Gail (India) (GAIL.NS) falls 2.3 percent.

Brent crude remains below $65 per barrel, not far above five-year lows hit in the previous session.

Company is adversely impacted by lower crude prices due to its petrochemical and LPG businesses, says Jefferies.

Fall in crude oil lowers petchem and LPG realisations which in turn impacts company's margins.

GAIL also indicated trading profits remained weak in 3Q, Jefferies adds.

(Reporting by Abhishek Vishnoi)