GAIL reported lower-than-estimated 2QFY21 EBITDA, led by continued poor performance in gas trading for the second consecutive quarter. However, other segments reported better numbers (with petchem being a surprise). Gas transmission volumes stood at 106mmscmd (-2% YoY) in 2QFY21, although above FY20 average. GAIL expects further increase in transmission and trading volumes in the coming quarters. With some delay, the Kochi-Mangalore pipeline is expected to be completed by end-Nov'20 and gas sales of ~0.7mmscmd will start immediately....