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21-Aug2018

GAIL rises on planning to invest in start-ups, solar power plants, battery charging stations

GAIL (India) is currently trading at Rs. 382.70, up by 3.60 points or 0.95% from its previous closing of Rs. 379.10 on the BSE.

The scrip opened at Rs. 378.25 and has touched a high and low of Rs. 386.85 and Rs. 378.25 respectively. So far 135872 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 398.80 on 16-Aug-2018 and a 52 week low of Rs. 279.38 on 22-Aug-2017.

Last one week high and low of the scrip stood at Rs. 398.80 and Rs. 373.20 respectively. The current market cap of the company is Rs. 86143.71 crore.

The promoters holding in the company stood at 53.34%, while Institutions and Non-Institutions held 42.34% and 4.32% respectively.

GAIL India is planning to invest in start-ups, build solar power plants and set up battery charging stations for electric vehicles as it looks to diversify its portfolio beyond gas and petrochemicals. The investment can be made through special purpose vehicle (SPV), alternative investment fund (AIF), fund of funds (FoF) and trust. The company has sought shareholder approval for the said investment.

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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