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12-Jan2018

GAIL India surges on the buzz of planning to set up coal to gas conversion plants

GAIL (India) is currently trading at Rs. 499.75, up by 4.90 points or 0.99% from its previous closing of Rs. 494.85 on the BSE.

The scrip opened at Rs. 495.00 and has touched a high and low of Rs. 500.35 and Rs. 495.00 respectively. So far 11580 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 518.00 on 28-Dec-2017 and a 52 week low of Rs. 327.34 on 18-Jan-2017.

Last one week high and low of the scrip stood at Rs. 506.20 and Rs. 492.75 respectively. The current market cap of the company is Rs. 84412.94 crore.

The promoters holding in the company stood at 53.95%, while institutions and non-institutions held 41.11% and 4.95% respectively.

GAIL India is reportedly planning to set up coal to synthetic gas plants in Odisha. This synthetic gas is expected to be cheaper than ‬domestic gas. In this regard, the company is in talks with the Ministry of Fertiliser.

GAIL India is India's principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.


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