GAIL (India) gains in volatile trade

GAIL (India) rose 0.86% to Rs 460 at 10:43 IST on BSE, with the stock reversing initial fall in volatile trade.

Meanwhile, the S&P BSE Sensex was up 293.19 points or 1.17% at 25,393.11

On BSE, so far 23,925 shares were traded in the counter as against average daily volume of 1.38 lakh shares in the past one quarter.

The stock saw initial volatility. The stock rose as much as 1.44% at the day's high of Rs 462.70 so during the day. The stock fell as much as much as 1.05% at the day's low of Rs 451.30 so during the day. The stock hit 52-week low of Rs 273 on 28 August 2013. The stock hit a 52-week high of Rs 469.55 on 25 June 2014.

The stock had outperformed the market over the past one month till 27 June 2014, rising 20.33% compared with 2.24% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.04% as against Sensex's 12.99% rise.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) on Sunday, 29 June 2014 initiated implementation of a slew of relief measures for the affected families and villagers of Nagaram following the tragic gas pipeline incident in which nineteen people lost their lives and several were injured.

The compensation of Rs 20 lakh per deceased and Rs 50000 to each of the 19 injured, totaling to Rs 3.89 crore was handed over to the district administration on Sunday, 29 June 2014. The disbursement of compensation to the individual eligible beneficiaries will begin on Monday, 30 June 2014, GAIL (India) said.

GAIL (India) said the company will bear the medical expenses of all the injured persons and best possible medical care will be provided.

Parallely, pending the outcome of the enquiry set up both by the Government as well as the company, two senior officials incharge of the regional operations and maintenance of the pipeline network have been suspended, GAIL (India) said.

Mr. B C Tripathi, CMD, GAIL said, GAIL (India) deeply mourns the tragic loss of life and property in the unfortunate incident along the natural gas pipeline of the company at Tatipaka in East Godavari district of Andhra Pradesh. Our ED (Human Resources), Mr. Amit Ray has been nominated as the nodal officer for coordinating the relief and rehabilitation measures and closely work with local authorities, Government and villagers.

GAIL (India) after market hours on Friday, 27 June 2014, clarified that loss in revenue is expected to be nominal from the incidence of blast at the company's Tatipaka-Kondalpalli gas pipeline in Andhra Pradesh on Friday, 27 June 2014. Fire at the pipeline has been extinguished on the same day, GAIL (India) said.

GAIL (India) is covered under Public Liability Insurance upto Rs 15 crore per annum and Industrial Insurance upto Rs 400 core per annum. Insurance is taken for the gas in the pipelines. However, insurance for pipeline is not taken as per company's policy.

GAIL (India) during market hours on Thursday, 26 June 2014 in a clarification with regard to news item titled "Share climbs on report of co acquiring stake in more shale gas assets in the US", said that apart from participation in Carrizo s Eagle Ford asset in 2011, GAIL (India) has so far not acquired any shale gas asset in US.

GAIL (India)'s net profit rose 57.2% to Rs 972.03 crore on 16.6% growth in net sales to Rs 14464.29 crore in Q4 March 2014 over Q4 March 2013.

GAIL (India) is India's flagship gas transmission and marketing company with global footprints. The Government of India (GoI) holds 56.11% stake in GAIL (India) (as per the shareholding pattern as on 31 March 2014).

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