Gail Flares Up On Debt Repayment Buzz

GAIL gathered steam today on debt restructuring plans. The scrip edged up today on reports that the company is planning to repay its high-cost loan from ADB.

The stock of the largest gas transmission and marketing company in India was up by 1.10 per cent to close at Rs 78.30 on the BSE today. In the mid-afternoon trades, the scrip was up by 1.03 per cent at Rs 78.25. A total of 81,880 shares changed hands on the BSE counter today.

The scrip has witnessed a sustained rise in the last few months, staging a recovery after every decline. From a low of Rs 61.05 on September 19, 2002, it has gained 28 per cent to the current Rs 78.25. The stock has seen a good dividend yield.

 

It has turned more attractive now on this count as dividend has been made tax-free in investors