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GAIL strengthens as company to invest for new polypropylene complex in Maharashtra

GAIL (India) is currently trading at Rs. 334.00, up by 2.30 points or 0.69% from its previous closing of Rs. 331.70 on the BSE.

The scrip opened at Rs. 331.50 and has touched a high and low of Rs. 334.25 and Rs. 330.00 respectively. So far 18554 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 398.80 on 16-Aug-2018 and a 52 week low of Rs. 296.00 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 349.00 and Rs. 330.00 respectively. The current market cap of the company is Rs. 75105.14 crore.

The promoters holding in the company stood at 52.64%, while Institutions and Non-Institutions held 43.64% and 3.72% respectively.

GAIL (India) has approved revival of existing LPG Plant at Usar, District Raigad, Maharashtra and converting it into 500 KTPA Polypropylene complex with an estimated investment of Rs 8800 crore. This is first of its kind project in India which would be using Propane Dehydrogenation technology for production of Propylene integrated with the downstream Polypropylene Unit. The project is expected to be commissioned by FY 2023- 24. The Project is proposed to be financed with mix of internal generations and external debts.

GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.

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