Share Of GAIL rose by 5% after LIC takes stake equity. Which have risen by 5% on Thursday after Life Insurance Corporation bought 2.014% of stakes. Share of GAIL traded up by 3.6% at Rs.106.4.Benchmark Sensex was up by 0.7%. LIC bought 203.71 million of shares of 2.014% stakes in the open market purchase between February,2019 and July,2020.
Since the beginning of 2020 GAIL’S share has declined by 12%. From its March lows, the stock has risen by 63%.
GAIL’s March quarter profit has risen by 216% year on year to 4,818.88, however the net sales has fallen by 6% year on year.
- GAIL, Gas India Limited is Government owned natural gas processing and distributing company. As of March 31, Government held 52.09% stake in the comapny. It is one of the largest public centre undertaking.