GAIL gains as its subsidiary inks pact with WGL Midstream Inc for procuring natural gas

05 Dec 2014 Evaluate

GAIL (India) is currently trading at Rs. 473.45, up by 3.05 points or 0.65% from its previous closing of Rs. 470.40 on the BSE.

The scrip opened at Rs. 472.00 and has touched a high and low of Rs. 479.90 and Rs. 472.00 respectively. So far 44320 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 551.35 on 31-Oct-2014 and a 52 week low of Rs. 332.25 on 17-Dec-2013.

Last one week high and low of the scrip stood at Rs. 499.00 and Rs. 461.30 respectively. The current market cap of the company is Rs. 60278.05 crore.

The promoters holding in the company stood at 56.11 % while Institutions and Non-Institutions held 40.01 % and 2.32 % respectively.

GAIL (India)’s subsidiary, GAIL Global USA LNG LLC has signed sourcing agreement with US-based company WGL Midstream Inc for procurement of natural gas required to produce about 2.5 MTPA of LNG at the Cove Point Terminal located in Maryland, US.

WGLM is a subsidiary of WGL Holdings Inc., a prominent natural gas company of the United States. The definitive gas sale and purchase agreement has been signed for a period of 20 years and supplies are expected to commence from late 2017 when the LNG terminal, in which GGULL holds liquefaction capacity, becomes operational. This agreement is another milestone towards GAIL's efforts in sourcing of LNG to meet the rising demand of gas in the Indian market.

GAIL is India’s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.

GAIL India Share Price

227.35 23.00 (11.26%)
03-Jun-2024 13:54 View Price Chart
Peers
Company Name CMP
GAIL India 227.35
Petronet LNG 309.70
Linde India 8883.00
Confidence Petroleum 79.76
Refex Industries 138.00
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