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GAIL rises with arm signing MoU with EESL

GAIL (India) is currently trading at Rs. 364.65, up by 0.10 points or 0.03% from its previous closing of Rs. 364.55 on the BSE.

The scrip opened at Rs. 364.35 and has touched a high and low of Rs. 369.25 and Rs. 362.85 respectively. So far 17632 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. 296.00 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 379.20 and Rs. 362.85 respectively. The current market cap of the company is Rs. 82761.10 crore.

The promoters holding in the company stood at 53.46%, while Institutions and Non-Institutions held 42.51% and 4.03% respectively.

GAIL's (India) subsidiary -- GAIL Gas has signed a Memorandum of Understanding (MoU) with Energy Efficiency Services (EESL) for fast-tracking the implementation of co-generation and tri-generation projects and use of natural gas in industrial and commercial segments.

The MoU is set to benefit commercial installations like hotels, hospitals, airports, commercial malls, commercial/ government building, integrated residential complexes, educational institutions, data center, among others, with the advantages of combined heat & power technology.

Under the MoU, EESL will manage equipments at the customer's location and GAIL Gas will supply natural gas to the feasible projects within the authorised geographical areas. This MoU will help in achieving target set by Government of India to increase the share of natural gas in the energy mix of the country from the present level to 6.5% to 15% by 2020.

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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