Gail India Ltd Stock Quotes and Charts
Gail India & Rashtriya Chemicals & Fertilizers signs MOU for coal gasification project Gail India and Rashtriya Chemicals & Fertilizers have entered into a MOU for setting up coal gasification project by GAIL and utilization of the coalgas produced for setting up a fertilizer plant by Rashtriya Chemicals & Fertilizers.
GAIL (India) Ltd. board is likely to consider in May<br>or June a bonus issue of shares, its Chairman and Managing Director<br>U.D. Choubey said today.<br> "We have already doubled the authorised capital to 20 bln rupees<br>and we will go to the board (on bonus issue) in another two to three<br>months after closing our accounts (for the year)," Choubey told<br>reporters.<br> GAIL is likely to seek shareholders approval for the bonus at its<br>next<br>Annual General Meeting in September, he said.<br>
when the company will credit bonus shares to my demat account
GAIL shareholders approve 1 bonus share issue for 2 equity shares Authorized capital to be doubled to Rs. 2000 crore GAIL to enhance petrochemical capacity at its Pata plant Company on path to achieve Rs. 50,000 crore revenue by 2011-12 Enhancing the transmission / distribution capability, Petrochemicals and City Gas / CNG activities to be focus areas for future growth GAIL Training Institute to become Profit Centre.<br><br>September 4, 2008, The shareholders of GAIL (India) Limited approved the issuance of 1 bonus share for every 2 equity shares held in the 24th Annual General Meeting of the Company held today in New Delhi. <br><br>The paid-up capital of the company is Rs. 845.65 crore and the Reserves and Surplus as on 31st March 2008 were approximately Rs. 12,160 crore. The Board of the Company had earlier, in June this year, recommended the issuance of bonus shares.<br><br>The shareholders also approved the payment of 100 percent dividend for the year 2007-08.
The record date for receiving bonus shares as October 7, 2008.It will be credited in your a/c very soon.
GAIL (Rs. 322) <br>Buy only in the region 320-323 with a stop loss<br>below 317 for an intra-day target of 330 and 335.<br><br>
GAIL<br>Hold<br>Price: Rs421 Target Price (Mar 11): Rs382<br><br>Priced for stable tariff<br><br>* Tariff concerns reducing…: We reiterate our view that the new<br>regulations are unlikely to substantially reduce the tariff charged by GAIL.<br>The new regulations offer a 12% RoCE tariff based on a project IRR<br>method with life of asset at 25 years. For existing pipelines, the Capital<br>Employed is based on net block and life of asset is based on the residual<br>life (25 years – the number of years completed). While GAIL management<br>has recently stated that the tariffs can actually increase by about 10%<br>based on the new regulations, we factor in a reduction of about 10%.<br><br>* And projects on track…: Most of the proposed projects of the company<br>are on track. The first phase of upgraded capacity of HBJ pipeline is likely<br>to go onstream shortly, while the entire upgradation (in three phases)<br>would be completed by the end of next calendar year. The capex is integral<br>not only to the volume growth assumptions in our calculations but also the<br>tariff as outlined above. Hence any significant delays in capex can impact<br>the tariff calculations, particularly on HBJ.<br><br>* Petrochemical capacity expansion is also on schedule and the first phase of<br>debottlenecking of the existing capacity from 0.41 MMTPA to 0.5 MMTPA<br>would be ready by August 2010.<br><br>* Subsidy issue continues to haunt: Government of India has stated that<br>LPG and Kerosene subsidy would be borne by Central Government, while<br>auto-fuel subsidy would be borne by Upstream companies. Now that LPG<br>and Kerosene subsidy is to be borne by Government, there is no rationale<br>on GAIL bearing the subsidy. However, during the first two quarters of the<br>current year, GAIL continued to bear a part of the subsidy and an increase<br>in the subsidy continues to threaten and impact GAILs valuations.<br><br>* Maintain Hold: As stated above, we believe that HBJ pipeline tariffs are<br>unlikely to decline significantly. Further, over the next one year, GAIL is<br>likely to benefit from the increased availability of gas and the completion of<br>the projects. However, the recent sharp run-up in the price captures both<br>these upsides. Further, any sharp increase in subsidy due to higher crude<br>price could significantly impact valuations. Hence, we retain hold and<br>revise the target price to Rs. 382 from Rs. 371.
Gail Target 500...<br>Management expects increase of current ~150 mmscmd transmission capacity to to ~300 mmscmd by FY13 through capex of INR 300 bn.<br>Gas supplies from KGD6 (post the fresh allocation of 20+30 mmscmd) as well as ramp up of LNG terminals (Dabhol, Dahej, and Kochi) are expected to buoy FY14 volumes to ~200 mmscmd (CAGR of 20%), implying capacity utilisation of ~66-75%. GAIL expects<br>a 5-10% upward revision in HVJ tariffs against our assumption of 15% decline.
• GAIL (Rs. 412)<br><br>Buy only in the region 405-412 with a closing stop<br>loss below 385 for a short-term target of 450 and<br>484.
The government is planning to bring expanded piped natural gas (PNG) for households in 200 cities and compressed natural gas (CNG) infrastructure for transportation.The proposed notification of the contentious Section 16 of the PNGRB Act, 2007 will empower the board to issue permits for retail expansion of PNG and CNG as well as the natural gas pipeline infrastructure. <br>Transmission players like GAIL and GSPL would benefit...<br>Pvt Retailing players like Guj Gas will benefit as they can expand into many cities at the same Ind Gas may also get benefitted <br>SAW Pipe Companies like Jindal SAW, Guj Stahl Rohren will benefit<br>Precision Valve companies like KSB & Tyco (not listed) will benefit <br>Gas Metering & Intrumentation Companies like Tokheim (not listed) will benefit <br>Pure Payment Gateway players like BillJunction, BillPay & Visa have one more segment like utility for offering Payment solutions if 200 cities conusme 20,000 Cr gas with 1.5 to 2% Payment Intermediation is additional 300 to 400 cr opporunity
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