GAIL (India) Ltd Share Price – NSE  /  BSE

Gas Distribution, Mid Cap

GAIL (India) announced that the company has been upgraded from C to B level in CDP Global ESG Rating.

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GAIL (India) announced that the Board of Directors of the Company at its meeting held on 29 January 2024, inter alia, have recommended the interim dividend of Rs 5.5 per equity Share (i.e. 55%) , subject to the approval of the shareholders.

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GAIL (India) has successfully concluded a long-term LNG purchase agreement for purchase of around 0.5 MMTPA LNG from ADNOC Gas. This is pursuant to an MoU dated 30 October 2022 between GAIL and Abu Dhabi National Oil Company (ADNOC) P.J.S.C wherein Parties agreed that, in potential areas of collaboration both parties shall explore opportunities including purchase of LNG by GAIL from ADNOC for a tenure ranging from short term to medium and long-term.

This significant development between GAIL and ADNOC will reinforce the robust cultural and economic bonds between India and the United Arab Emirates (UAE). Under this agreement, the deliveries will commence from 2026 onwards for a duration of 10 years, across India. This arrangement is believed to further aid in India's rising energy security requirements and, simultaneously, also fuel GAIL's strategic growth objectives to cater to its downstream customers in the rapidly evolving Natural Gas landscape of the country.

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Net profit of GAIL (India) rose 672.09% to Rs 3194.62 crore in the quarter ended December 2023 as against Rs 413.76 crore during the previous quarter ended December 2022. Sales declined 3.31% to Rs 34697.82 crore in the quarter ended December 2023 as against Rs 35884.51 crore during the previous quarter ended December 2022.

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