State-owned refinery Indian Oil Corporation (IOC) and gas utility GAIL India’s initial agreement, to buy a 50 per cent stake in Adani Group’s Rs 5,000 crore Dhamra LNG project in Odisha, has expired, said Dharmendra Pradhan, oil minister.
IOC, GAIL pact to take stake in Adani’s Dhamra LNG project expires, no investment made: Dharmendra Pradhan
State-owned refiner Indian Oil Corp (IOC) and gas utility GAIL India Ltd’s initial agreement to buy a 50 per cent stake in Adani Group’s Rs 5,000-crore Dhamra LNG project in Odisha has expired, Oil Minister Dharmendra Pradhan said Monday.
India has fixed about 64% lower tariff for the Krishna Godavari basin gas pipeline network at 16.14 rupees per million British thermal units (mmbtu), according to an order by the Petroleum and Natural Gas Regulatory Board (PNGRB).
With Gas Authority of India Limited’s (GAIL) gas pipeline network coming in the way of its alignment, Namma Metro’s Phase 2 project appears to have run into rough weather.
Shares of GAIL (India) hit an over three-month low of Rs 323, down 10 per cent, in intra-day trade on the BSE on the back of heavy volumes. The stock was quoting at its lowest level since February 26, 2019.
The share price of Gail India soared by nearly 3% to touch intraday high of Rs 358.90 per piece on Senxex during Wednesday’s trading session. At around 1139 hours, the stock was performing at Rs 357.40 per piece up by Rs 8.10 or 2.32%.
State-run Gail India plans to list its subsidiary Gail Gas and is aggressively investing in city gas distribution to create volumes before it takes the company to the market, a top company official said.
State-run gas utility GAIL will spend Rs 54,000 crore in the next 2-3 years for expanding availability of the clean-burning fuel to cities and industries across the country in a bid to reduce the economy’s carbon footprint.
Stepping up the momentum for construction of the Jagdishpur-Haldia and Bokaro-Dhamra natural gas pipeline (JHBDPL) and Barauni – Guwahati Pipeline (BGPL) pipeline, GAIL (India) has winded up finalising awards for Rs 10,500 crore contracts for pipe supply and laying of the integrated 3,400 km-long proj
GAIL (India) is currently trading at Rs. 341.90, up by 1.05 points or 0.31% from its previous closing of Rs. 340.85 on the BSE. The scrip opened at Rs. 340.00 and has touched a high and low of Rs. 342.75 and Rs. 339.25 respectively. So far 10488 shares were traded on the counter.