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GAIL may test INR 385-390: Pritesh Mehta

Pritesh Mehta, technical analyst of IIFL told CNBC-TV18, "If you look at the weekly chart, GAIL India broke out from an inverted head and shoulder pattern in the month of February and thereafter it went higher but failed to sustain at higher levels. So there was a bit of retracement. It found support yet again at its previous breakout point and so I am expecting a fresh run-up to begin in this counter and we can see levels of INR 385-390 going forward." The company's trailing 12-month (TTM) EPS was at INR 31.70 per share. The stock's price-to-earnings (P/E) ratio was 11.73. The latest book value of the company is INR 191.00 per share. At current value, the price-to-book value of the company was 1.95. The dividend yield of the company was 2.58 percent.

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