GAIL (India) gains on partnering with LanzaTech Global
GAIL (India) is currently trading at Rs. 109.50, up by 0.60 points or 0.55% from its previous closing of Rs. 108.90 on the BSE.
The scrip opened at Rs. 108.90 and has touched a high and low of Rs. 110.95 and Rs. 108.80 respectively. So far 474841 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 113.95 on 16-May-2023 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. 111.10 and Rs. 107.55 respectively. The current market cap of the company is Rs. 71964.47 crore.
The promoters holding in the company stood at 51.91%, while Institutions and Non-Institutions held 42.08% and 6.01% respectively.
GAIL (India) has entered into a partnership with LanzaTech Global, Inc., USA, an innovative carbon capture and utilization (CCU) company that converts waste carbon into products that people use in their daily lives, to explore innovative technology solutions that advance GAIL's Net Zero 2040 goals and have the potential to support wider decarbonization applications globally.
GAIL and LanzaTech will explore setting up a pilot scale CO2 capture and conversion project that has the potential to be a role model for converting CO2 into useful materials instead of emitting it to the atmosphere. Combining LanzaTech's carbon capture and utilization technology with GAIL's renewable H2 and CO2 gas streams, the project will enable resource utilization where the building blocks of everyday consumer goods Viz. Fuel, Packaging and Clothing can be made from bio recycled material instead of virgin fossil fuel.
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