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GAIL shares surge by 7.85 percent

By SiliconIndia | Thursday, 02 July 2009, 04:20 Hrs | 1 Comments

Bangalore: GAIL India (GAIL) ended the day among the top gainers, after its share price went up by 7.85 percent. On a day when the broader markets finished flat, GAIL went up by starting the day at Rs 290 and reached Rs 310.45 at the closing bell. 3,215,655 GAIL shares were traded through the day with the intraday high of Rs 330.60. The one year stock price chart of GAIL is on the left.

GAIL operates through segments, including natural gas, petrochemicals, liquid petroleum gas (LPG) transmission and other liquid hydrocarbons. It owns and operates a network of over 7000 kilometers of natural gas high pressure trunk pipeline and a gas-based integrated petrochemical plant at Pata, Uttar Pradesh with a capacity of producing 410,000 tons per annum. Though, the price of cooking gas was untouched by the government in the fuel price hike announced yesterday, GAIL shares found the momentum to go up in the market. On Wednesday, GAIL appointed R D Goyal as the new Director of Projects in the company.

Reliance Natural Resources Fund holds the highest number of GAIL shares with a total of 28,85,584 shares in its kitty. Of the 26 analysts following GAIL, the consensus recommendation is hold, while six analysts recommend to buy the stock and eight to hold.

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1: With future view in mind it can be good news for investors who invested in GAIL that eventhough most of the companies finished flat today, GAIL managed to go up by almost eight percent.

Posted by:zambiar - 02 Jul, 2009