Business Daily from THE HINDU group of publications
Tuesday, Sep 18, 2007
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Business Daily from THE HINDU group of publications Tuesday, Sep 18, 2007 ePaper |
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Stocks Markets - Stock Markets
Jayanta Mallick Kolkata, Sept. 17 Smart investors appear to have been steadily accumulating GAIL stock of late as a long-term value unlocking bet, while a section of punters has been shorting it in the futures, according to market circles. The stock closed on Monday at Rs 313.15. Its combined traded quantity on the NSE and the BSE cash segment was over 3 lakh shares. InvestmentsApart from growth in business as a result of on-going and planned future capex, Gail’s several investments including in Petronet LNG, Gujarat Gas, Indraprastha and Mahanagar Gas are slated for value unlocking in foreseeable future as some of the joint ventures, subsidiaries and associate companies are poised come to the secondary market. According to a senior company official, GAIL, the first to enter city gas projects for supply of PNG and CNG by forming 8 joint ventures, has recently approached the Government with firm plans for granting approval to pursue city gas projects in 230 cities across the country. Growth plansAccording to the Managing Director, Dr U.D. Choubey, the PSU has drawn up a growth strategy to earn revenues of Rs 50,000 crore plus by 2011 from Rs 16,047 crore in the year 2006-07. Apart from expanding the distribution business, it is going ahead with plans to enter gas exploration and production, retailing and petrochemicals. GAIL is in dialogue for expansion overseas in the areas of trans-national trunk pipelines, city gas distribution projects, gas-based petrochemicals in gas rich countries and LPG processing plants too. GAIL is also considering setting up gas based petrochemical plants overseas. More Stories on : Stocks | Stock Markets | Petroleum | GAIL (India) Ltd
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