On November 27, 2025, the Petroleum and Natural Gas Regulatory Board issued a tariff order for GAIL’s integrated natural gas pipeline network. (Photo source: company website)
GAIL’s valuations have corrected sharply from their Sep’24 highs, and the stock now trades close to its historical average at ~1.1x one-year forward core P/B, offering limited downside, considering an attractive dividend yield and a robust free-cash-flow outlook.