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09-08-2023 11:42 AM | Source: Accord Fintech
GAIL rises as its arm commences PNG supply to industrial customers in Adityapur
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GAIL (India) is currently trading at Rs. 127.05, up by 1.00 points or 0.79% from its previous closing of Rs. 126.05 on the BSE.

The scrip opened at Rs. 127.05 and has touched a high and low of Rs. 127.35 and Rs. 125.90 respectively. So far 475797 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 128.10 on 08-Sep-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. 128.10 and Rs. 121.45 respectively. The current market cap of the company is Rs. 83569.52 crore.

The promoters holding in the company stood at 51.91%, while Institutions and Non-Institutions held 42.08% and 6.01% respectively.

GAIL’s (India) wholly owned subsidiary -- GAIL Gas has commenced Piped Natural Gas (PNG) supply to its industrial customers in Adityapur under Seraikela-Kharswan district. GAIL Gas has commenced supplying PNG to its first industrial customer M/s Omni Auto in Adityapur Industrial Area, Phase 7. Over 550 industrial units operate in Adityapur-Gamariah industrial area and five industrial houses have already signed agreement to avail the facility while some others have lined up for it.

GAIL Gas has laid about 300 km of pipeline network in Adityapur-Gamaharia area and has been supplying gas to domestic customers in Adityapur-Gamharia areas. The company has also commissioned eight CNG stations in Adityapur, Kandra Seraikela, NH-33 in Seraikela-Kharswan and West Singhbhum districts and is planning to add more. GAIL Gas has been implementing City Gas Distribution Project in Saraikela-Kharsawan and West Singhbhum District.

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