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IRFC is now the 10th most valuable state-run enterprise in the country, surpassing Bharat Electronics Ltd, Bank of Baroda, and Gail India Ltd

IRFC on a new high, is 10th most-valued PSU after m-cap crosses Rs 1 lakh crore

The CBI conducted a search at the residence of the senior executive director, K B Singh, located at B-86, 1st Floor, Sector 72, Noida-201301. The investigation has been carried out under various sections of the Prevention of Corruption Act, 1988 (as amended in 2018), and section 120-B of the Indian Penal Code.No quantifiable impact on the financial, operational, or other activities of GAIL (India) can be determined at this stage.The arrest was made on 5 September 2023. As reported in the CBI arrest cum search memo, several individuals have been implicated, including K B Singh, executive director (ER & projects), GAIL; Surendra Kumar Sharma, CEO of Advance Infrastructures.; Harsh Yadav; Suryavesh; Davinder Singh, CGM, GAIL; Sunil Kumar, Sr. GM, Mecon, along with other unidentified public servants and private persons.The CBI has alleged that K.B. Singh, the executive director of GAIL, accepted a bribe amounting to Rs 50 lakhs from Surendra Kumar Singh at his residence on 4 September 2023.The incident has been duly reported to the appropriate authorities.  State-owned GAIL (India) is one of the largest petrochemical players of country. The Government of India held 51.91% stake in GAIL (India) as on June 2023. The companys consolidated net profit fell 44.85% to Rs 1,792.99 crore on 13.48% decrease in net revenue from operations of Rs 32,788.63 crore in Q1 June 2023 over Q1 June 2022. The stock rose 0.65% to Rs 123.45 on 5 September 2023.

GAIL (India) executive director arrested in alleged bribery case

Global energy prices are on the upswing after Brent crude prices surged to a ten-month high of over $90 per barrel.

Gas stocks boil up to 6% on Brent heat, but firm prices may cap gains

Searches related to the alleged bribery scandal were underway in Delhi, Noida, and Visakhapatnam, the persons privy to the development said.

CBI arrests GAIL executive director, four others in alleged Rs 50 lakh bribery case

We expect their outperformance to continue for the coming weeks.

Hot Stocks | Uttam Sugar Mills, GSFC, GAIL India may deliver at least 12% in short term

MTAR Technologies, MCX India and GAIL India were among the stocks that outperformed the market on September 1 and are expected to continue the uptrend

Trade Spotlight | How to deal in MTAR Technologies, MCX India, GAIL today

The Board of GAIL (India) at its meeting held on 26 August 2023 the Gurdaspur Jammu Natural Gas Pipeline project entailing an investment of Rs 521.92 crore. The project will add capacity of 2.66 MMSCMD and is expected to be completed in 3 years. 

Board of GAIL (India) approves Gurdaspur Jammu Natural Gas Pipeline project 

HDFC Securities is bullish on GAIL (India) has recommended buy rating on the stock with a target price of Rs 137 in its research report dated July 31, 2023.

Buy GAIL (India); target of Rs 137: HDFC Securities

The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year, when LNG prices surged to a record high.

GAIL close to finalising Qatar LNG purchase deal: Report

Motilal Oswal is bullish on GAIL recommended buy rating on the stock with a target price of Rs 145 in its research report dated July 31, 2023.

Buy GAIL; target of Rs 145: Motilal Oswal

GAIL (India) Ltd. engages in the exploration, production, processing, transmission, distribution, and marketing of natural gas. It operates through the following business segments: Transmission services, Natural Gas Trading or Marketing, Petrochemicals, LPG and Other Liquid Hydrocarbons, and Other. The Transmission services segment includes natural gas and LPG. The Natural Gas Trading or Marketing segment supplies of natural gas include fuel to power plants, feedstock for gas-based fertilizer plants, LPG extraction, and city gas distribution. The Petrochemicals segment manufactures and markets polymers polypropylene, linear low-density polyethylene, and high-density polyethylene from natural gas. The LPG and Other Liquid Hydrocarbons segment sells gas processing unit products such as LPG, propane, pentane, naphtha, and by-products of polymer plant. The Other segment is involved in GAIL TEL, exploration and production, city gas, and power generation. The company was founded in August 1984 and is headquartered in New Delhi, India.

Watchers	521
52-Wk Low	83.00
52-Wk High	129.55

Market Cap	799.86B
Volume (M)	7.75M
52-Wk High	129.55
52-Wk Low	83.00

GAIL.NSE Gail (India) Ltd.

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