Gail (India) jumps on planning to borrow up to Rs 7,000 crore in FY24
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GAIL (India) is currently trading at Rs. 106.50, up by 1.65 points or 1.57% from its previous closing of Rs. 104.85 on the BSE.
The scrip opened at Rs. 104.70 and has touched a high and low of Rs. 106.55 and Rs. 104.15 respectively. So far 351073 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. 113.95 and Rs. 102.95 respectively. The current market cap of the company is Rs. 69761.81 crore.
The promoters holding in the company stood at 51.91%, while Institutions and Non-Institutions held 42.27% and 5.82% respectively.
Gail (India) is planning to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal. Even though FY23 was not good for internal resource generation, it invested Rs 9,100 crore, which was 15 per cent higher than the budgeted levels.
At present, the company's overall long-term debt stands at Rs 9,800 crore, and the new bank borrowings will be for a tenor of over five years. The company is also contemplating entering into the ethane cracker, but the plans are still on the drawing board.
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.
