Financial Daily from THE HINDU group of publications
Thursday, Jan 01, 2004
Financial Daily from THE HINDU group of publications Thursday, Jan 01, 2004 |
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Markets
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Stocks Market cap of Gail touches Rs 22,900 cr Our Bureau
New Delhi , Dec. 31 THE market capitalisation of state-owned gas producer Gail India touched Rs 22,900 crore on the last day of 2003, with the scrip closing at Rs 271 on the Bombay Stock Exchange. The company claimed that the Gail scrip out-performed the Bombay Stock Exchange (BSE) Sensex throughout 2003. A company press release said that Gail has maintained a consistent financial performance, has promising projects in hand and has a good track record of time-bound implementation of projects. The Gail stock rose from Rs 75 in January to Rs 271 during the year, registering a growth of 260 per cent. During the same period, the Sensex registered a growth of 73 per cent from 3,417 points to 5,921. "During the year Gail has taken several initiatives which impacted the share price. These include the announcement of setting up of a National Gas Grid at a cost of Rs 20,000 crore and improving the gas supply situation," the release said.
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