MS, Jefferies expect GAIL shares to rise, margin gains likely https://ift.tt/RLT4pKU shares have risen 12.4% since January as against the 11% decline in the Nifty. Morgan Stanley said GAIL's valuation - measured by price to earnings (PE)ratio - at 8 times FY23 estimated earnings is not only attractive but also has the tailwind of an earnings upgrade cycle as clarity on certain pipeline tariffs emerges.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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