Gujarat Gas Ltd Share Price – NSE  /  BSE

Gas Distribution, Small Cap

This alliance between both the companies will deliver an extensive range of products and services throughout GGL’s authorized areas.

Under the MoU, IOCL will provide liquid fuels at GGL outlets, IOCL will provide automotive lubricants, greases and specialties at the GGL outlet, set up CNG Facility at IOCL COCO Outlets and GGL will set up CNG mother facility at IOCL outlets.

Gujarat Gas is the largest city gas distribution company in India. The company has a network of -38,000 km of gas pipeline, distributing approx. 9.2 mmscmd of natural gas. The company operates more than 815 CNG stations and has connected more than 20.5 lakh households in six states and one union territory.

Indian Oil Corporation is an Indian government owned oil and gas explorer and producer. As of 31 December 2023, the Government of India held 51.50% stake in the company.

Shares of Gujarat Gas declined 1.46% to currently trade at Rs 564.80 while Indian Oil Corporation gained 2.25% to Rs 170.25 on the BSE.

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Gujarat Gas will hold a meeting of the Board of Directors of the Company on 6 May 2024.

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Offering further details on the same, the city gas distributor said that this collaboration entails offering liquid fuels, including petrol and diesel, alongside BPCL's allied petroleum products such as automotive lubricants, greases and specialties, at select GGL outlets.

It further added that BPCL will supply automotive lubricants, greases and specialties for sale at both GGL's COCO (company-owned company-operated) and franchise outlets.

The two companies plan to set up a CNG facility at BPCL COCO outlets and a CNG Mother Facility at BPCL outlets.

Gujarat Gas is the largest city gas distribution company in India. The company has a network of -38,000 km of gas pipeline, distributing approx. 9.2 mmscmd of natural gas. The company operates more than 815 CNG stations and has connected more than 20.5 lakh households in six states and one union territory.

The company registered revenue from operations of Rs 4,084 crore during the quarter ended on 31 December 2023 as against Rs 3,991 crore for quarter ended on 30 September 2023. The standalone profit after tax (PAT) for the current quarter is Rs 220 crore as compared to Rs 298 crore for quarter ended on 30 September 2023.

The scrip rose 0.63% to end at Rs 570.40 on the BSE yesterday.

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Gujarat Gas (GGL) and Bharat Petroleum Corporation (BPCL) have entered into a Memorandum of Understanding (MOU).

Under the terms of the MOU, GGL and BPCL will collaborate on various fronts to streamline operations and improve service delivery:

• Provision of Liquid Fuels: This collaboration entails offering liquid fuels, including petrol and diesel, alongside BPCL's allied petroleum products such as automotive lubricants, greases and specialties, at select GGL outlets.

• Supply of Automotive Lubricants: BPCL will supply automotive lubricants, greases and specialties for sale at both GGL's COCO (Company Owned Company Operated) and franchise outlets.

• Expansion of CNG Infrastructure:

1. Setting up of CNG Facility at BPCL COCO Outlets

2. Setting up of CNG Mother Facility at BPCL Outlet

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