We expect commodity price and economy revival post lockdown to pick up along with the withdrawal of claim by DoT. Given current upside potential, we upgrade our rating to BUY on the stock with a revised target price of Rs. 119 based on SOTP valuation. Weak pricing and lockdown impacted the topline In 4QFY20, GAIL reported standalone revenue of Rs. 17,755cr (-5.4% YoY) due to weak oil & gas pricing and nationwide lockdown amidst COVID-19. Natural Gas marketing segments fell 4.6% YoY on account of drop in international oil prices and closures of...