GAIL gains post announcement of PNG supply in Bhubaneshwar

India Infoline News Service | Mumbai | October 24, 2017 14:22 IST

Stocks of GAIL gained after the honorable minister praised the company for fast pace of work to commence gas supply in Bhubaneshwar

GAIL India
In a filing made to BSE on Tuesday, the company reported that Honorable Minister Dharmedra Pradhan has launched the commencement of Portable Natural Gas (PNG) supply in Bhubaneshwar.

The filing reports that PNG supply will commence in 255 houses in NALCO Nagar. The supply is expected to start almost 6 months before the deadline of March 2018. Also, 4 CNG stations are under construction.

The Minister appreciated GAIL for its fast pace of work with the commencement of the first phase of supply of PNG to 255 houses. GAIL has plans to provide to the adjacent Jeevan Bima Colony and Maitri Vihar Colony, covering 1,000 houses. Also, assessment of PNG supply to leading hospitals, hotels, and industrial units is being carried out. 

GAIL (India) Ltd is currently trading at Rs 443, up by Rs 8.55 or 1.97% from its previous closing of Rs 434.45 on the BSE. The scrip opened at Rs 435.5 and has touched a high and low of Rs 445.15 and Rs 435.5 respectively. So far 38.9 lakh shares were traded on the counter. 

***Note: This is a NSE Chart



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