GAIL rises ~1% after launching online portal

The company which owns 70% of the nation’s network, that is, 11,400km of natural gas pipelines, has allowed third-party access to natural gas pipelines since 2004.

Aug 30, 2018 10:08 IST India Infoline News Service

GAIL India
GAIL (India) recently launched an online portal allowing third-parties to book natural gas capacity online. The company which owns 70% of the nation’s network, that is, 11,400km of natural gas pipelines, has allowed third-party access to natural gas pipelines since 2004.

Moreover, GAIL has served about 100-150 customers since the last few years, but this is the first time that the company has gone online with the process.

It is believed that the company’s move will help improve transparency and allow observers to understand its infrastructure further.

The corporation’s move comes amid rumors of the government wanting to split GAIL into two companies, one for laying pipelines and the other for marketing and petrochemicals, to boost transparency, amid charges of overlapping functions. However, since then, the Centre seems to have had a change of heart.

The state-owned company is currently trading at Rs370.05 up by Rs3 or 0.82% from its previous closing of Rs367.05 on the BSE.

The scrip opened at Rs371.90 and has touched a high and low of Rs371.90 and Rs364.50 respectively. So far 9,39,030 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs82,772.38cr.

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