GAIL charges up on divestment reports

DALAL STREET SPIKES

GAIL moved up in early trades on reports that the Cabinet Committee on Divestment has decided to offload 10 per cent in the company.

The counter hit an all-time high of Rs 234 before closing at Rs 219.45, up by 4.92 per cent. More than 20.12 lakh shares were traded on the BSE.

The Cabinet Committee on Divestment (CCD) on Tuesday gave an in-principle approval to the government's proposal to divest 10 per cent in ONGC and GAIL through a public offer. This led to huge buying interest on both the counters in early morning trades.