Business Standard

Gail (India)

Former Chairman and MD of GAIL, CR Prasad passes away at age of 83

CR Prasad, former chairman and managing director of state-owned gas utility GAIL (India) Ltd, has died. He was 83. Prasad died on Saturday, GAIL said in a post on LinkedIn. It, however, did not give reasons for the death. "Dr CR Prasad joined GAIL as Director (Planning) in 1994 and rose to the position of CMD in 1996," it said. He was chairman and managing director (CMD) of the company till his superannuation in 2001. "He was instrumental in transforming GAIL into a company strategically positioned for forward and backward integration, thereby unlocking the full potential of the gas value chain. "His visionary leadership established a robust foundation, characterised by the core values and competencies that define the company today. A meticulous project manager, he consistently delivered projects on time and within budget, solidifying his reputation as a pioneer in LPG, liquid hydrocarbons, and petrochemicals," it said. Industry leaders condoled his death. Suresh P Manglani, CEO

Former Chairman and MD of GAIL, CR Prasad passes away at age of 83
Updated On : 14 Jul 2024 | 12:20 PM IST

Former Chairman and MD of GAIL, CR Prasad passes away at age of 83

CR Prasad, former chairman and managing director of state-owned gas utility GAIL (India) Ltd, has died. He was 83. Prasad died on Saturday, GAIL said in a post on LinkedIn. It, however, did not give reasons for the death. "Dr CR Prasad joined GAIL as Director (Planning) in 1994 and rose to the position of CMD in 1996," it said. He was chairman and managing director (CMD) of the company till his superannuation in 2001. "He was instrumental in transforming GAIL into a company strategically positioned for forward and backward integration, thereby unlocking the full potential of the gas value chain. "His visionary leadership established a robust foundation, characterised by the core values and competencies that define the company today. A meticulous project manager, he consistently delivered projects on time and within budget, solidifying his reputation as a pioneer in LPG, liquid hydrocarbons, and petrochemicals," it said. Industry leaders condoled his death. Suresh P Manglani, CEO

Former Chairman and MD of GAIL, CR Prasad passes away at age of 83
Updated On : 14 Jul 2024 | 12:20 PM IST

Analysts divided on GAIL's prospects; limited fresh gains in the offing

Analysts believe that there could be tariff hikes of 10-12 per cent starting in H2FY25 and continuing through FY26 and this could boost FY26 net profit as well

Analysts divided on GAIL's prospects; limited fresh gains in the offing
Updated On : 09 Jul 2024 | 11:11 PM IST

LS poll impact: PSU shares in free fall mode; most stocks hit lower circuit

Government-owned shares witnessed intense selling pressure as analysts feared that the relatively poor showing of the Modi-government may impact its reforms agenda.

LS poll impact: PSU shares in free fall mode; most stocks hit lower circuit
Updated On : 04 Jun 2024 | 11:54 AM IST

IOC, GAIL, ONGC fined for 4th straight quarter for not appointing directors

State-owned oil and gas giants including IndianOil, ONGC and GAIL (India) Ltd have been slapped with fines for the fourth straight quarter for failing to meet listing requirements of having the requisite number of directors on their board. Stock exchanges imposed a cumulative fine of Rs 34 lakh on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the January-March quarter, stock exchange filings showed. In separate filings, the companies detailed the fines imposed by the BSE and NSE for either not having the requisite number of independent directors or the mandated women director in the quarter ended March 31, 2024 (fourth quarter of 2023-24 fiscal year), but were quick to point out tha

IOC, GAIL, ONGC fined for 4th straight quarter for not appointing directors
Updated On : 26 May 2024 | 11:19 AM IST

Gail to invest Rs 50,000 crore in petrochemical unit in Madhya Pradesh

The new ethane cracking unit aims to meet the domestic demand for petrochemicals, which is projected to nearly triple to $1 trillion by 2040

Gail to invest Rs 50,000 crore in petrochemical unit in Madhya Pradesh
Updated On : 22 May 2024 | 4:28 PM IST

Gail Q4 results: Consolidated net profit jumps 2.8-times to Rs 2,469 crore

Latest rise was due to low base in Q4 FY23 as a result of supply disruptions

Gail Q4 results: Consolidated net profit jumps 2.8-times to Rs 2,469 crore
Updated On : 16 May 2024 | 11:29 PM IST

Gail Q4 results: Profit slips 22% at Rs 2,177 cr from Q3, revenue down 6%

Gail Q4 FY24 results: Consolidated net profit of the country's largest gas distributer grew multi-fold compared to Q4 FY23

Gail Q4 results: Profit slips 22% at Rs 2,177 cr from Q3, revenue down 6%
Updated On : 16 May 2024 | 6:20 PM IST

Gail Q4 results: Profit slips 22% at Rs 2,177 cr from Q3, revenue down 6%

Gail Q4 FY24 results: Consolidated net profit of the country's largest gas distributer grew multi-fold compared to Q4 FY23

Gail Q4 results: Profit slips 22% at Rs 2,177 cr from Q3, revenue down 6%
Updated On : 16 May 2024 | 6:20 PM IST

Torrent Power up 7%, hits 52 week high on lower spot LNG prices

Shares of power generation company Torrent Power surged up to 7 per cent at Rs 1,512 on Wednesday's intraday trade on BSE

Torrent Power up 7%, hits 52 week high on lower spot LNG prices
Updated On : 27 Mar 2024 | 3:29 PM IST

GAIL plans to commission its first green hydrogen project in April

"Once the initial hiccups are sorted at the commissioning stage, we expect to start producing in a month's time," one of the sources said

GAIL plans to commission its first green hydrogen project in April
Updated On : 26 Mar 2024 | 1:02 PM IST

PM to inaugurate Barauni-Guwahati national gas pipeline on Saturday

Prime Minister Narendra Modi is scheduled to inaugurate the Barauni-Guwahati Natural Gas Pipeline (BGPL), a milestone project linking the North East region to the National Gas Grid, during his visit to Assam on Saturday, a top official of the executing company, GAIL (India) Ltd, said. This pipeline will provide a dependable source of clean energy, foster economic growth and enhance the overall well-being of the people of the region, GAIL's executive director (Projects) AK Tripathi told reporters here on Friday. The 718km pipeline which traverses through Bihar, West Bengal and Assam has been built at a cost of Rs 3,992 crore by GAIL, a Maharatna PSU under the Ministry of Petroleum and Natural Gas, he added. The pipeline is designed to supply natural gas to nine geographical areas covering 31 districts across these three states through authorised city gas distribution (CGD) entities along its route, Tripathi said. Tripathi highlighted the unique challenges encountered during the ...

PM to inaugurate Barauni-Guwahati national gas pipeline on Saturday
Updated On : 08 Mar 2024 | 5:50 PM IST

NTPC, Gail: How to trade these 5 stocks that turned ex-dividend this week?

As many as 49 stocks turned ex-dividend on the bourses this week. Here's a quick chart check on select five among them.

NTPC, Gail: How to trade these 5 stocks that turned ex-dividend this week?
Updated On : 09 Feb 2024 | 12:38 PM IST

GAIL's stronger-than-expected Q3FY24 performance may be priced in

The management claimed improved realisation was key and higher petrochemical sales, improved marketing margins, and reduced petchem costs contributed to the good performance

GAIL's stronger-than-expected Q3FY24 performance may be priced in
Updated On : 05 Feb 2024 | 11:28 PM IST

Gail India's Mahanagar Gas forms LNG joint venture with Baidyanath

Mahanagar Gas, the city utility arm of Gail India, on Friday announced a joint venture with Baidyanath LNG, the first domestic firm to set up LNG retailing outlets, to form Mahanagar LNG. The joint venture will focus on developing LNG infrastructure to cater to the increasing demand for clean and sustainable energy solutions for the long-haul and close-loop transportation segments, MGL said in a statement. The joint venture aims to set up six LNG stations in Maharashtra in the first phase and subsequently expand its footprint across the country, said MGL managing director Ashu Shinghal, who will also be the chairman of the new entity. GJPN Murthy, the chief executive of the JV company, said the new entity will help develop an LNG ecosystem in the country and assist the long-haul automotive and logistics industry in the adoption of cleaner fuel. Mahanagar Gas is one of the largest city gas distributors. It has over 27 years of experience in supplying natural gas in Mumbai and is ..

Gail India's Mahanagar Gas forms LNG joint venture with Baidyanath
Updated On : 12 Jan 2024 | 8:45 PM IST

Gail signs deal with Vitol to secure 1 mn MT of LNG annually for 10 years

The deal is significant as it is the first of a series of agreements being pursued by Gail to diversify its imports beyond Qatar, aiming to avoid disruption in supplies

Gail signs deal with Vitol to secure 1 mn MT of LNG annually for 10 years
Updated On : 05 Jan 2024 | 4:31 PM IST

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India

The partnership will consolidate demand for natural gas in India over a period of 10 years, beginning in 2026

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India
Updated On : 05 Jan 2024 | 3:12 PM IST

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India

The partnership will consolidate demand for natural gas in India over a period of 10 years, beginning in 2026

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India
Updated On : 05 Jan 2024 | 3:12 PM IST

Gail stock sees upward growth, owing to upcoming tariff hikes, new projects

Potential risks include volatile gas prices. Also as of now, petrochemicals spreads are still falling. But the stock, which hit a record high of Rs 164.25 in intra-day trade on Friday

Gail stock sees upward growth, owing to upcoming tariff hikes, new projects
Updated On : 29 Dec 2023 | 11:15 PM IST

GAIL surges 8% to new lifetime high; joins Rs 1 trillion market-cap club

Analysts at ICICI Securities have a 'buy' rating on GAIL with a 12-month target price of Rs 188 per share

GAIL surges 8% to new lifetime high; joins Rs 1 trillion market-cap club
Updated On : 22 Dec 2023 | 10:46 PM IST