GAIL numbers are disappointing: Manish Sonthalia

In a chat with ET Now, Manish Sonthalia, VP & Fund Manager, Motilal Oswal Asset Management–PMS shares his views on GAIL

ET Now: What has been the view on GAIL, the results or the PAT is definitely disappointing?

Manish Sonthalia: Numbers are disappointing. There is a big miss, I do not know whether they are one offs or polymer, petchem what have been the margins, transmission volumes, these are variables and we do not still have the break apart. It is not an actionable stock and we have not taken any call on GAIL per se because Reliance volumes are declining, it is not going to improve in a hurry and the biggest trigger was that in case of derating on GAIL. At the same time petchem is somewhat sluggish, commodity prices are we have seen that in the case of Reliance as well and again that is not going to improve in a hurry so I would not say they are any major triggers for GAIL.