India’s biggest gas utility is considering acquiring all of the wind energy assets held by a subsidiary of a troubled shadow bank, according to people familiar with the matter.
Shares of GAIL (India) Ltd. and Gujarat State Petronet Ltd. jumped after the regulator Petroleum & Natural Gas Regulatory Board increased tariffs for some pipelines The tariffs were hiked in the range of 27 percent to 691 percent
ONGC not to sell stake in IOC, GAIL in near future; repays close to third of Rs 24,881 cr loan to buy HPCL
State-owned Oil and Natural Gas Corp. Ltd (ONGC) will not sell its stake in Indian Oil Corporation Ltd and GAIL (India) Ltd in the near future as it has used internal resources to repay close to a third of the Rs 24,881 crore loan it had taken to buy Hindustan Petroleum Corp Ltd (HPCL), people with direct knowledge of the matter said.
The stock is quoting at Rs 349.15, up 1.78% on the day as on 12:54 IST on the NSE. GAIL (India) Ltd is up 13.45% in last one year as compared to a 10.85% spurt in NIFTY and a 14.5% spurt in the Nifty Energy.
A meeting of the Board of Directors of GAIL India Ltd is scheduled to be held on Friday, the 12th January, 2018 to consider, payment of interim dividend for FY 2017-18.
To promote the use of clean fuel, the oil ministry plans to set up bio-CNG (compressed natural gas) plants and allied infrastructure at a cost of Rs7,000 crore, two people aware of the plan said.
Indian gas firm GAIL (India) Ltd is renegotiating its liquefied natural gas purchase deals with U.S.-based Cheniere Energy and Dominion Cove Point, Oil Minister Dharmendra Pradhan told lawmakers on Monday.
If the city gas project in Ernakulam is successful, it could be extended to northern districts of Kerala, state government has informed the high court. The project aims at delivering cooking gas through piped connections.
A strong balance sheet coupled with limited investment avenues can make the world’s largest coal producer, Coal India Ltd., a good candidate to acquire the government’s stake in GAIL (India) Ltd., according to brokerage Antique Stock Broking.
GAIL India Ltd. received notification from Russia’s Gazprom PJSC that it plans to start deliveries of liquefied natural gas through a contract the Indian buyer is trying to renegotiate, according to people with knowledge of the matter.