GAIL shares down 5% as firm mulls closing coal-fired plants

GAIL India shares plunged over 5 per cent today as the company mulls shutting down of coal-based power plants situated near metro cities.
The stock ended the day 5.05 per cent down at Rs 339.50 on BSE. During the day, it dipped 5.64 per cent to Rs 337.35.
At NSE, shares of the company went down by 5 per cent to Rs 339.60.
The company's market valuation fell by Rs 2,289.19 crore to Rs 43,064.81 crore.
Amidst raging debate over rising levels of air pollution, state-owned GAIL India yesterday mooted shutting down of coal -based power plants near metro cities and switch to cleaner gas as a source of electricity generation.

GAIL Chairman and Managing Director B C Tripathi said besides Badarpur power plant in Delhi, the nearby Dadri station too needs to be shut.
Delhi, the world's most polluted city, last week decided to shut down the Badarpur and Rajghat thermal power stations to check pollution.
Meanwhile, in the broader market, the benchmark BSE Sensex suffered a loss of 219.78 points to settle at 25,310.33.