GAIL shares jump 4% as Q2 net profit rises over 8% to Rs 4,650 crore, revenue grows 17%

What happened: GAIL shares rose nearly 4% after the company reported second-quarter profit and revenue growth, supported by its gas marketing and transmission businesses. The board also gave in-principle approval to list subsidiary GAIL Gas through an IPO. Key numbers: Q2 net profit rose over 8% to Rs 4,650 crore; revenue grew 17%; shares rose nearly 4%. Why it matters: Investor sentiment was buoyed by the strong quarterly results and the board's in-principle approval of the GAIL Gas IPO.

GAIL shares rose nearly 4% after the company reported second-quarter profit and revenue growth, supported by its gas marketing and transmission businesses. The board also gave in-principle approval to list subsidiary GAIL Gas through an IPO.

Investor sentiment was buoyed by the strong quarterly results and the board's in-principle approval of the GAIL Gas IPO.