GAIL (India) is currently trading at Rs. 378.80, up by 4.05 points or 1.08% from its previous closing of Rs. 374.75 on the BSE.
The scrip opened at Rs. 376.00 and has touched a high and low of Rs. 379.00 and Rs. 376.00 respectively. So far 48355 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 400.80 on 08-Mar-2017 and a 52 week low of Rs. 249.38 on 16-Mar-2016.
Last one week high and low of the scrip stood at Rs. 387.30 and Rs. 369.55 respectively. The current market cap of the company is Rs. 63931.26 crore.
The promoters holding in the company stood at 56.57%, while institutions and non-institutions held 40.51% and 2.91% respectively.
In a bid to build a City Gas Distribution (CGD) network in Bhubaneswar and Cuttack, State-run gas company GAIL (India) is reportedly planning to invest Rs 1,750 crore. Of total, Rs 1,000 crore would be spent on Bhubaneswar, while the remaining Rs 750 crore has been set aside for Cuttack. Gas distribution to households in the twin-city region is expected to be a reality by December 2019 or early 2020.
The CGD project proposes to cover a population of 0.5 million in Bhubaneswar and Cuttack in the next three to five years. Apart from households, piped natural gas (PNG) would be supplied to industries and compressed natural gas (CNG) to vehicles under the ‘Pradhan Mantri Urja Ganga Yojana’. The PNG for households is estimated to be cheaper than subsidised Liquefied Natural Gas (LNG) by 10-15 per cent.