GAIL shares drop 2.6% as Sensex rises

economictimes.indiatimes.com:

GAIL (India) Ltd. traded 2.6 per cent lower in Wednesday's session at 02:05PM (IST). The stock opened at Rs 194.35 and has touched an intraday high and low of Rs 194.35 and Rs 185.65, respectively, during the session so far.
The stock quoted a 52-week high of Rs 196.35 and a 52-week low of 102.1. About 1,455,265 shares changed hands on the counter so far.

Benchmark Nifty50 was up 32.46 points at 22388.75, while the BSE Sensex traded 166.73 points higher at 73843.86 at the time of writing of this report.
In the Nifty pack, 21 stocks traded the day in the green, while 29 were in the red.

Key Financials For the quarter ended 31-Dec-2023, the company reported consolidated sales of Rs 35111.76 crore, up 5.79 per cent from the previous quarter's Rs 33191.03 crore and up 3.36 per cent from the year-ago quarter. The company reported net profit of Rs 3194.62 crore for the latest quarter.
Promoter Holdings Promoters held 51.9 per cent stake in the company as of 31-Dec-2023, while FIIs held 14.24 per cent and MFs 10.16 per cent.
Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 133.26 on March 06, while the 50-DMA was at Rs 172.9. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.