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GAIL shares have multiple worries ahead, Kotak warns projecting 14% downsideKotak said that if GAIL were to shut down its cash loss-making petrochemicals business, marketing earnings could weaken further.By Meghna Sen  February 27, 2026, 9:19:42 AM IST (Published)1 Min ReadShares of GAIL (India) Ltd. opened lower on Friday, February 27, after brokerage firm Kotak Institutional Equities reiterated its 'Sell' rating on the stock with a price target of ₹145 per share.

The brokerage said that with Henry Hub (HH) gas settlement prices rising in February and several customers opting for lower offtake under take-or-pay contracts, GAIL has further cut its marketing PBT guidance to ₹3,500 crore for FY26/27E.

This compares with its earlier guidance of ₹4,000 crore and the ₹5,000-5,500 crore range indicated in early 2025.

Kotak said that if GAIL were to shut down its cash loss-making petrochemicals business, marketing earnings could weaken further.

The brokerage also said that beyond the INGPL tariff revision effective January 2026, there are limited near-term catalysts for the stock. Elevated capital expenditure remains another area of concern.

Additionally, GAIL's plan to set up two gas-based fertiliser plants has added to investor worries around capital allocation and returns.

Of the 33 analysts tracking the stock, 24 have a 'Buy' rating, seven recommend 'Hold', and two have a 'Sell' call.

Shares of GAIL ended marginally higher by 0.01% at ₹170.02 on Thursday. The stock is down around 1% so far in 2026.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.TagsGAILGail IndiaGail India share priceGAIL shares