GAIL India ( Rs 243)on 5th Nov-08 at 9:55 IST on BSE, on signing a cooperation agreement with the Himachal Pradesh state government for extension of the proposed Dadri-Bawana-Nangal natural gas pipeline to the state.
The stock hit a high of Rs 244.90 and a low of Rs 241 so far during the day. The stock has a 52-week high of Rs 370 on 1 January 2008 and a 52-week low of Rs 165 on 27 October 2008.
The company’s current equity is Rs 1268.48 crore. Face value per share is Rs 10.
The current price of Rs 243 discounts the company’s Q2 September 2008 annualized EPS of Rs 48.41, by a PE multiple of 5.02.
The agreement will also pave the way for a joint exercise aimed at assessing the demand potential of natural gas and allied products in Himachal Pradesh, GAIL India said. The company has already conducted a sample survey of some of industrial areas in Himachal Pradesh.
In September 2008, GAIL India’s board approved a 1:2 bonus issue.
GAIL India’s net profit surged 78.8% to Rs 1023.45 crore on 35.3% increase in net sales to Rs 6129.28 crore in Q2 September 2008 over Q2 September 2007. The results were announced on 23 October 2008.
The company distributes natural gas and processes petrochemicals.
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