GAIL rises on strengthening partnership with Gazprom

17 Jan 2018 Evaluate

GAIL (India) is currently trading at Rs. 483.45, up by 5.95 points or 1.25% from its previous closing of Rs. 477.50 on the BSE.

The scrip opened at Rs. 487.90 and has touched a high and low of Rs. 487.90 and Rs. 482.80 respectively. So far 7,961 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. 502.35 and Rs. 473.20 respectively. The current market cap of the company is Rs. 81,842.00 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) and Gazprom have strengthened their partnership further by successfully re-negotiating the long-term LNG Sale and Purchase Agreement (SPA) originally signed in the year 2012. An amendment to this effect was signed on January 16, 2018 in New Delhi.

A long-term LNG Sale & Purchase Agreement building up to 2.5 MMTPA of LNG on DES (Discharge-ex-Ship) basis was executed by GAIL with Gazprom Marketing & Trading Singapore (GMTS) in the year 2012, the supplies under which are scheduled to start in Q2 2018. The two parties have agreed to an adjustment to the price and volume of LNG supply thus enabling GAIL to develop incremental gas markets to off-take these volumes thereby mitigating volume risk.

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.


GAIL India Share Price

207.35 7.70 (3.86%)
24-Apr-2024 16:01 View Price Chart
Peers
Company Name CMP
GAIL India 207.35
Petronet LNG 299.35
Linde India 8228.90
Confidence Petroleum 91.00
Refex Industries 163.15
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