GAIL launches start-up initiative Pankh

GAIL (India) Limited announced on Tuesday that the company has launched a start-up initiative titled Pankh to identify and promote innovative ventures.

Jul 26, 2017 04:07 IST India Infoline News Service

GAIL India
GAIL (India) Limited announced on Tuesday that the company has launched a start-up initiative titled Pankh to identify and promote innovative ventures.
 
The initiative is launched to support Prime Minister Narendra Modi's objective to nurture the spirit of entrepreneurship among Indians.
 
In order to promote the initiative, the company has created a corpus of Rs 50 crore for investing in start-ups and would also provide mentoring to them in core areas of the company, i.e. natural gas and its derivatives.
 
The company also introduces a start-up web portal though which potential candidates can submit their proposals to GAIL. The portal can be accessed via the GAIL website and will be remain open until August 16, 2017.  
 
Stock View:
 
GAIL (India) Ltd is currently trading at Rs 381, up by Rs 7.85 or 2.1% from its previous closing of Rs 373.15 on the BSE.
 
The scrip opened at Rs 375.8 and has touched a high and low of Rs 381.45 and Rs 372.65 respectively. So far 863279(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 63110.98 crore.
 
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 433.5 on 03-May-2017 and a 52 week low of Rs 269.25 on 29-Sep-2016. Last one week high and low of the scrip stood at Rs 383.95 and Rs 372.15 respectively.
 
The promoters holding in the company stood at 54.43 % while Institutions and Non-Institutions held 40.13 % and 4.62 % respectively.
 
The stock is currently trading below its 100 DMA.

Related Story