PSU Stock in Focus: However, the Maharatna Central Public Sector Enterprises (CPSE) has not disclosed financial details of the project.
Mumbai: PSU Stock in Focus: Shares of state-owned gas utility GAIL (India) Ltd are expected to be in focus when the market opens on Monday as the company has signed a memorandum of understanding (MoU) with the Karnataka government. As part of the MoU, the company will explore the setting up of renewable energy projects of up to 1 gigawatt (GW) in the state.
“Under the MoU, the Government of Karnataka would facilitate GAIL to obtain necessary permissions/registrations/approvals/clearance/ incentives, etc., from the concerned departments of the state, as per the prevailing policies/rules and regulations of the state government. GAIL intends to set up renewable energy projects of up to 1 GW within a period of five years,” the company said in a statement.
However, the Maharatna Central Public Sector Enterprises (CPSE) has not disclosed financial details of the project.
Speaking on the occasion, MB Patil, Karnataka’s Minister for Large and Medium Industries and Infrastructure Development said, “We welcome GAIL’s strategic interest in Karnataka. This MoU reaffirms our commitment to facilitating clean energy investments while driving industrial growth.
Karnataka’s policy ecosystem, skilled workforce, and land availability make it a natural partner for companies focused on sustainability”.
GAIL Share Price
Shares of GAIL ended in the red in the last trading session on Friday. The stock fell 1.22 per cent to end the session at Rs 181.70 as against the previous close of Rs 183.95.
On the NSE, the stock dipped 1.50 per cent to end the session at Rs 181.50.
GAIL Share Price History
The counter has given a multibagger return of 198 per cent to its investors in five years. While it has given a positive return of 74 per cent in three years and 69 per cent in two years, it has corrected 5.90 per cent in one year. The stock has dipped 11 per cent in six months.
