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Gujarat Gas inches up on receiving approval for Hazira - Ankleshwar natural gas pipeline

11 Jul 2012 Evaluate

Gujarat Gas is currently trading at Rs. 312.70, up by 0.05 points or 0.02% from its previous closing of Rs. 312.65 on the BSE.

The scrip opened at Rs. 311.50 and has touched a high and low of Rs. 321.00 and Rs. 308.90 respectively. So far 61608 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 463.00 on 02-Sep-2011 and a 52 week low of Rs. 270.00 on 31-May-2012.

Last one week high and low of the scrip stood at Rs. 323.80 and Rs. 308.50 respectively. The current market cap of the company is Rs. 4033.46 crore.

The promoters holding in the company stood at 65.12% while Institutions and Non-Institutions held 23.85% and 11.02% respectively. 

Gujarat Gas Company has received authorization for its Hazira - Ankleshwar natural gas pipeline from the Petroleum and Natural Gas Regulatory Board (PNGRB). The provisional system capacity and extra capacity for this pipeline shall be equal to 5.06 mmscmd and 1.265 mmscmd respectively.

Earlier in April, Gujarat Gas Company (GGCL) had executed an asset exchange agreement with GSPC Gas Company. Pursuant to this agreement, GGCL would withdraw its authorisation application with the Petroleum and Natural Gas Regulatory Board for its gas distribution network in Valsad and Navsari districts in South Gujarat and Union territories of Daman & Silvassa.

Gujarat Gas Company, which is engaged in supply of gas to industrial, auto and house-hold consumers in Gujarat, gets nearly 75% of its requirements from the PMT fields through GAIL India.

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