GAIL rises on acquiring IL&FS’ 26% equity stake in OTPC

GAIL (India) is currently trading at Rs. 134.45, up by 1.70 points or 1.28% from its previous closing of Rs. 132.75 on the BSE.

The scrip opened at Rs. 134.00 and has touched a high and low of Rs. 134.75 and Rs. 133.20 respectively. So far 29595 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 171.35 on 06-Oct-2021 and a 52 week low of Rs. 124.40 on 01-Feb-2021.

Last one week high and low of the scrip stood at Rs. 134.75 and Rs. 127.50 respectively. The current market cap of the company is Rs. 58946.11 crore.

The promoters holding in the company stood at 51.85%, while Institutions and Non-Institutions held 44.02% and 4.14% respectively.

GAIL (India) has completed the acquisition of bankrupt Infrastructure Leasing and Financial Services’ (IL&FS) 26 per cent equity stake in ONGC Tripura Power Company (OTPC). OTPC is a special purpose vehicle set up by Oil and Natural Gas Corporation (ONGC) to build a 726.6 megawatt combined cycle gas turbine (CCGT) thermal power plant at Palatana, Tripura. The IL&FS group and the Government of Tripura (GoT) were partners in the special purpose vehicle (SPV).

GAIL (India) is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG regasification, petrochemicals, city gas, E&P, etc.