Gujarat Gas Company spurts on executing revised agreement with GAIL

20 Dec 2013

Gujarat Gas Company is currently trading at Rs. 266.90, up by 3.20 points or 1.21 % from its previous closing of Rs. 263.70 on the BSE.

The scrip opened at Rs. 262.05 and has touched a high and low of Rs. 269.20 and Rs. 262.05 respectively. So far 1237 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 313.25 on 01-Feb-2013 and a 52 week low of Rs. 159.00 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 265.90 and Rs. 259.00 respectively. The current market cap of the company is Rs. 3435.18 crore.

The promoters holding in the company stood at 73.70 % while Institutions and Non-Institutions held 17.49 % and 8.81 % respectively.

Gujarat Gas Company (GGCL) has executed an amendment agreement with GAIL (India) for supply of Administered Price Mechanism (APM) gas for 0.429 million metric standard cubic meters of gas per day (mmscmd) on firm basis & Panna-Mukta and Tapti (PMI) gas for 0.059 mmscmd on firm basis and revision in allocation for PMT gas from existing 2.13 mmscmd to 1.66 mmscmd. The company has taken this step pursuant to the Ministry of Petroleum and Natural Gas (MoPNG) guidelines dated November 14, 2013.

Gujarat Gas Company, a 65.12 percent subsidiary of BG Asia, is India’s largest private sector natural gas distribution company in terms of sales volumes, with operations in Gujarat. The company distributes natural gas to domestic, commercial and industrial consumers, and compressed natural gas as automobile fuel, in the cities of Surat, Ankleshwar, Bharuch, and surrounding areas

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