GAIL stock jumps over 5.5% after CCI nods 26% stake acquisition of ONGC Tripura Power Company

Stock exchanges have sought clarification from Gail over the matter. The reply is awaited.

Sep 14, 2021 01:09 IST India Infoline News Service

GAIL India
Gail (India) stock was in the fast lane on Wednesday after the Competition Commission of India (CCI) approved the company's 26% stake acquisition in  ONGC Tripura Power Company.

Stock exchanges have sought clarification from Gail over the matter. The reply is awaited.

At around 1.09 PM, GAIL was trading at Rs153.95 per piece up 5.5% on Sensex. The stock was near the intraday high of Rs154.35 per piece.

CCI tweeted saying, "Commission approves acquisition of 26% equity stake in ONGC Tripura Power Company by GAIL (India)."

GAIL is set to acquire the stake from the IL&FS group companies IL&FS Energy Development Company Ltd and IL&FS Financial Services Ltd.

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