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Plans for new LNG import terminals are also being developed by GAIL, but they are still in the early phases, according to Gupta.
The unit aims to produce approximately 4.3 metric tons of hydrogen daily with a purity level of about 99.999% by volume, utilizing renewable energy sources.
Company reports a substantial surge in consolidated net profit to ₹3,193.34 Crore in the December quarter, compared to ₹397.59 Crore in the same period last year.
The companies were quick to point out that the government appointed the directors and they had no involvement in it.
Aligning with the government's plan, LNG deals aim to increase natural gas share in India's energy basket
GAIL India will essentially offtake its part of the volumes back-to-back.
Companies offer bonus shares to current owners in proportion to their holdings.
Recommendation: Buy; Target price: ₹185
This is the second long-term LNG purchase agreement that GAIL has inked this month.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.