Wednesday , 22 March 2023
Breaking News
GAIL climbs on signing MoU with Shell Energy India

GAIL climbs on signing MoU with Shell Energy India

GAIL (India) is currently trading at Rs. 111.00, up by 1.40 points or 1.28% from its previous closing of Rs. 109.60 on the BSE.

The scrip opened at Rs. 110.40 and has touched a high and low of Rs. 111.70 and Rs. 109.45 respectively. So far 728308 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 115.69 on 19-Apr-2022 and a 52 week low of Rs. 83.00 on 26-Sep-2022.

Last one week high and low of the scrip stood at Rs. 112.45 and Rs. 107.80 respectively. The current market cap of the company is Rs. 72917.86 crore.

The promoters holding in the company stood at 51.91%, while Institutions and Non-Institutions held 41.92% and 6.17% respectively.

GAIL (India) has signed a Memorandum of Understanding (MoU) with Shell Energy India to explore opportunities in different facets of energy value chain. For GAIL, this is a step towards achieving improved sustenance in business operations.

In a bid towards diversification of the feedstock for its petrochemical plant, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres. The MoU envisages to explore prospects in import and handling of different hydrocarbons which are important chemical and petrochemical precursors, LNG for road transport, regasification of imported LNG, renewables, etc.

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.