GAIL (India) wins license to build a gas pipeline from Gurdaspur to Jammu!

GAIL (India) has won a license to build a gas pipeline from Gurdaspur in Punjab to Jammu. Petroleum and Natural Gas Regulatory Board (PNGRB) had in January invited application cum bids for the grant of authorization for the Gurdaspur-Jammu pipeline. Two bidders namely, GAIL (India) and Indian Oil Corporation have submitted their bids. 

The 175-km long pipeline is to carry environment-friendly fuel to Jammu. The pipeline will have an initial capacity to carry at least 2 million standard cubic meters per day. PNGRB bid out the pipeline license on the lowest tariff offered for transporting the gas. 

Today, GAIL (India) informed in the exchange filing that it has been accredited with Authorised Economic Operator (AEO) T3 Status which is the highest level of facilitation for Importers & Exporters by the Central Board of Indirect Taxes and Customs, Ministry of Finance. 

AEO is a program under the aegis of the World Customs Organization (WCO) SAFE Framework of Standards to enhance international supply chain security and facilitate the movement of legitimate goods and also to promote ease of doing business in India. 

GAIL (India) is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG regasification, petrochemicals, city gas, E&P, etc. 

Today, the stock opened at Rs 104.05, with a high and low of Rs 104.90 and Rs. 103.75 respectively. The stock is currently trading at Rs 104.85, down by 0.19%. In the last 6 months, the shares of the company have given more than 10% returns, and on a YTD basis, the stock has given about 8% returns. 

The stock has shown impressive growth and investors should keep a close eye on this stock.