Meanwhile, the BSE Sensex was down 41.04 points, or 0.21%, to 19,346.10
On BSE, 24,663 shares were traded in the counter as against an average daily volume of 58,995 shares in the past one quarter.
The stock hit a high of Rs 355 and a low of Rs 345.50 so far during the day. The stock had hit a 52-week high of Rs 401 on 16 February 2012. The stock had hit a 52-week low of Rs 303.10 on 18 May 2012.
The stock had underperformed the market over the past one month till 11 December 2012, falling 0.35% compared with the Sensex's 3.77% rise. The scrip also underperformed the market in past one quarter, declining 5% as against Sensex's 8.59% rise
The large-cap company has an equity capital of Rs 1268.48 crore. Face value per share is Rs 10.
State-run gas transmission major GAIL (India) bears part of the under recoveries of public sector oil marketing companies (PSU OMCs) on LPG. The government is considering raising the cap on the number of subsidised LPG cylinders available to households to nine per year.
Oil Minister Veerappa Moily on Tuesday, 11 December 2012, said the government is likely to increase the limit of subsidised cooking-gas supplies to nine 14.2-kilogram cylinders per family a year from six now. An announcement in this regard will be made shortly, Moily said. In September 2012, the government capped the number of cylinders that can be bought at discounted prices as part of measures to reduce its spending on subsidies. The government has been under pressure since to increase the limit, both from within and outside the ruling coalition and from consumer groups.
PSU OMCs suffer revenue loss or under-recovery on domestic sale of diesel, LPG and kerosene at a controlled price. The government decontrolled pricing of petrol in 2010.
GAIL (India) reported 10% fall in net profit to Rs 985.38 crore on 18.2% increase in total income to Rs 11629.71 crore in Q2 September 2012 over Q2 September 2011.
On a provisional basis, GAIL (India)'s subsidy sharing burden on LPG jumped 38.66% to Rs 785.67 crore in Q2 September 2012 over Q2 September 2011.
The company said revenue of Rs 123.01 crore was derecognised during the quarter in view of revision of LPG pipeline tariff by Petroleum and Natural Gas Regulatory Board (PNGRB).
GAIL (India) is India's flagship gas transmission and marketing company with global footprints.
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