Page 2 - Gail India

Gail Q4 results: Profit slips 22% at Rs 2,177 cr from Q3, revenue down 6%

Gail Q4 FY24 results: Consolidated net profit of the country's largest gas distributer grew multi-fold compared to Q4 FY23

Torrent Power up 7%, hits 52 week high on lower spot LNG prices

Shares of power generation company Torrent Power surged up to 7 per cent at Rs 1,512 on Wednesday's intraday trade on BSE

GAIL plans to commission its first green hydrogen project in April

"Once the initial hiccups are sorted at the commissioning stage, we expect to start producing in a month's time," one of the sources said

PM to inaugurate Barauni-Guwahati national gas pipeline on Saturday

Prime Minister Narendra Modi is scheduled to inaugurate the Barauni-Guwahati Natural Gas Pipeline (BGPL), a milestone project linking the North East region to the National Gas Grid, during his visit to Assam on Saturday, a top official of the executing company, GAIL (India) Ltd, said. This pipeline will provide a dependable source of clean energy, foster economic growth and enhance the overall well-being of the people of the region, GAIL's executive director (Projects) AK Tripathi told reporters here on Friday. The 718km pipeline which traverses through Bihar, West Bengal and Assam has been built at a cost of Rs 3,992 crore by GAIL, a Maharatna PSU under the Ministry of Petroleum and Natural Gas, he added. The pipeline is designed to supply natural gas to nine geographical areas covering 31 districts across these three states through authorised city gas distribution (CGD) entities along its route, Tripathi said. Tripathi highlighted the unique challenges encountered during the ...

NTPC, Gail: How to trade these 5 stocks that turned ex-dividend this week?

As many as 49 stocks turned ex-dividend on the bourses this week. Here's a quick chart check on select five among them.

GAIL's stronger-than-expected Q3FY24 performance may be priced in

The management claimed improved realisation was key and higher petrochemical sales, improved marketing margins, and reduced petchem costs contributed to the good performance

Gail India's Mahanagar Gas forms LNG joint venture with Baidyanath

Mahanagar Gas, the city utility arm of Gail India, on Friday announced a joint venture with Baidyanath LNG, the first domestic firm to set up LNG retailing outlets, to form Mahanagar LNG. The joint venture will focus on developing LNG infrastructure to cater to the increasing demand for clean and sustainable energy solutions for the long-haul and close-loop transportation segments, MGL said in a statement. The joint venture aims to set up six LNG stations in Maharashtra in the first phase and subsequently expand its footprint across the country, said MGL managing director Ashu Shinghal, who will also be the chairman of the new entity. GJPN Murthy, the chief executive of the JV company, said the new entity will help develop an LNG ecosystem in the country and assist the long-haul automotive and logistics industry in the adoption of cleaner fuel. Mahanagar Gas is one of the largest city gas distributors. It has over 27 years of experience in supplying natural gas in Mumbai and is ..

Gail signs deal with Vitol to secure 1 mn MT of LNG annually for 10 years

The deal is significant as it is the first of a series of agreements being pursued by Gail to diversify its imports beyond Qatar, aiming to avoid disruption in supplies

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India

The partnership will consolidate demand for natural gas in India over a period of 10 years, beginning in 2026

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India

The partnership will consolidate demand for natural gas in India over a period of 10 years, beginning in 2026

Gail stock sees upward growth, owing to upcoming tariff hikes, new projects

Potential risks include volatile gas prices. Also as of now, petrochemicals spreads are still falling. But the stock, which hit a record high of Rs 164.25 in intra-day trade on Friday

GAIL surges 8% to new lifetime high; joins Rs 1 trillion market-cap club

Analysts at ICICI Securities have a 'buy' rating on GAIL with a 12-month target price of Rs 188 per share

GAIL seeks $1.8 bn from former Gazprom unit for non-delivery of LNG

State-owned Gail India on Friday said it has initiated legal proceedings against a former unit of Russian energy giant Gazprom for non-delivery of LNG and has sought USD 1.817 billion in damages. In a stock exchange filing, the gas utility said it has filed an arbitration claim before the London Court of International Arbitration for "non-supply of LNG cargoes under long-term contract." GAIL in 2012 signed a 20-year deal to buy as much as 2.85 million tonnes per annum of liquefied natural gas (LNG) with Russian energy giant Gazprom. The deal was signed with Gazprom Marketing and Singapore (GMTS), which at the time was a unit of Gazprom Germania, now called Sefe. The Russian parent gave up ownership of Sefe after Western sanctions were imposed on Moscow over its invasion of Ukraine last year. Sefe had stopped supplying LNG to the Indian company in June last year to meet its own demand. GAIL in the filing said it has sued "SEFE Marketing & Trading Singapore Pte Ltd (erstwhile ...

India plans strategic reserves by storing gas in depleted wells: GAIL

The strategic facilities would be built in phases in India's western and northeastern regions with an initial capacity to store three to four billion cubic meters (bcm) of gas

PEDA signs pact with Gail to set up 10 compressed biogas projects in Punjab

State-owned Punjab Energy Development Agency (PEDA) has signed an agreement with GAIL (India) Limited to set up 10 compressed biogas projects and other new and renewable energy projects in the state. The memorandum of understanding (MoU) was signed by PEDA CEO Amarpal Singh and GAIL (India) Executive Director RK Singhal, an official release said. Punjab New and Renewable Energy Sources (NRES) Minister Aman Arora said the pact will help the state to manage five lakh tonnes of paddy straw per annum and generate clean energy out of it. Punjab is an agrarian state, and it has immense potential for crop residue-based CBG plants, he said, adding that the Punjab government's business-friendly policies are helping in facilitating companies to set up their industries in the state. NRES Secretary Ravi Bhagat said that with the implementation of these 10 projects, paddy straw in around 1.25 lakh acres is expected to be prevented from being burnt. These projects will also create around 50 rur

Gail does world's first ship-to-ship LNG transfer, cuts CO2 emissions

India's top gas firm GAIL has done the world's first ship-to-ship liquefied natural gas (LNG) transfer to save on shipping costs and cut emissions as the state-owned entity looks at innovative ways as a pivot to boost business, company officials said. GAIL has contracted 5.8 million tonnes per annum of LNG (natural gas super-cooled to liquid form) from the US. The company brings this volume to India via LNG ships. The ship typically travels a distance of about 19,554 nautical miles for a round trip to transport LNG from Sabine Pass in the US to India via the Suez Canal and Gibraltar. This journey takes approximately 54 days and emits about 15,600 tonnes of CO2. Emissions are generally controlled using the latest technology or changing the destination of the cargo. However, GAIL's innovative contractual arrangement that results in vessels following an optimised path has resulted in a significant reduction in CO2 emission. Recently, the company-hired vessel Castillo De Santisteban mov

Torrent Gas appoints former GAIL chairman Manoj Jain as managing director

Former GAIL (India) Ltd Chairman Manoj Jain has been appointed Managing Director of city gas operator Torrent Gas Ltd, the firm said on Thursday. The Board of Torrent Gas, which has a licence to retail CNG to automobiles and piped natural gas to hosueholds and industries in 34 districts across the country, appointed Jain as its Managing Director with effect from January 1, 2024, the company said in a statement. Prior to this, Jain was the chairman and managing director of GAIL (India) Ltd from February 2020 to August 2022. "Jain is a seasoned business leader with an excellent track record across multiple areas within GAIL and is widely considered as an expert in the oil and gas sector," the statement said. "Jain possesses rich and diverse experience in the areas of business development, gas marketing, projects, petrochemicals and pipeline integrity management," it said. A mechanical engineer with an MBA in operations management, he joined GAIL as a graduate engineer trainee in 198

GAIL signs Rs 63,000 cr deal to source petrochemical feedstock from BPCL

State-owned gas utility GAIL (India) Ltd has signed a Rs 63,000-crore deal to source feedstock for its upcoming petrochemical plant at Usar in Maharashtra from Bharat Petroleum Corporation Ltd for 15 years, the two companies said. "The 15-year supply contract, estimated at a value of over Rs 63,000 crore, will see GAIL procuring 600,000 tonnes per annum of propane from BPCL's LPG import facility at Uran, which is presently capable of handling 1 million tonnes per annum of LPG imports and is undergoing expansion to accommodate 3 million tonnes a year of propane and butane imports," GAIL said in a statement. GAIL is constructing India's first propane dehydrogenation (PDH) plant at Usar in Maharashtra with a nameplate capacity of 500,000 tonnes per annum. The facility, which is likely to commence operations in 2025, will have a propylene production seamlessly integrated into a polypropylene (PP) plant of equal capacity. "This pioneering venture aligns perfectly with the surging demand

Stocks to Watch: Tata Steel, Hero Moto, Britannia, GAIL, JK Tyre, Ambuja

Stocks to watch on November 2, 2023: Two-wheeler manufacturer Hero Moto's consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter

GAIL Q2 results: Consolidated net profit jumps 87% to Rs 2,442 crore

In Q2 FY24, the company's consolidated revenue from operations fell 14.6 per cent to Rs 33,049 crore from Rs 38,728 crore in the year-ago period