GAIL strengthens on aiming to boost LNG portfolio

            GAIL (India) is currently trading at Rs. 319.95, up by 2.60 points or 0.82% from its previous closing of Rs. 317.35 on the BSE.

            The scrip opened at Rs. 318.40 and has touched a high and low of Rs. 320.80 and Rs. 317.40 respectively. So far 23974 shares were traded on the counter.

            The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 396.00 on 05-Oct-2012 and a 52 week low of Rs. 300.40 on 26-Mar-2013.

            Last one week high and low of the scrip stood at Rs. 322.80 and Rs. 310.20 respectively. The current market cap of the company is Rs. 40584.93 crore.

           The promoters holding in the company stood at 57.34% while Institutions and Non-Institutions held 38.68% and 2.92% respectively.

           GAIL is expected to expand its liquefied natural gas (LNG) portfolio to 20 million tonnes a year in the next seven years. The company plans to boost LNG portfolio via acquisitions and supply deals so that it can increase trading of the super-cooled gas.

           The state run firm has already tied up supplies for nearly 15 million tonnes a year. But supply agreements on some of that capacity is set to expire in the next few years, after that it will have to strike fresh deals to replace that.

           GAIL is India's flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services. [via]

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