GAIL Bonus Shares: PSU share GAIL has announced that the board will meet on July 27, 2022 to consider the issuance of bonus shares. The company’s filing said: “The meeting of the Board of Directors of the Company is scheduled for 27/07/2022, inter alia, to consider and approve Dear Sir/Madam, This is to inform that a meeting of the Board of Directors of GAIL (India) Limited are scheduled to meet on Wednesday 27 July 2022 to, among other things, consider the issuance of Bonus Shares by the Company. Further, following our letter of even No. ND/GAIL/SECTT/2022 dated June 28, 2022 (attached), further notice is being given that the trading window for trading GAIL’s securities was closed to Designated Persons and their Immediate Relatives on July 1, 2022 and will remain closed until 48 hours after the close of business. board meeting to consider and approve the financial results for the quarter ended June 30, 2022. This is in accordance with the Listing Obligations and Disclosure Requirements (SEBI) regulations, 2015″.
Gail is an integrated power company from Maharatna in the hydrocarbon sector. The company’s products and services include natural gas marketing and transmission, petrochemicals and the production of liquid hydrocarbons (LPG, propane and naphtha).
Stock price history
The gas stock, which has yielded a return of 7.72 percent so far in 2022, finished 1.6 percent lower today at Rs 141.55. Of the 28 analysts following the stock, none of them have a sell recommendation on GAIL. The average price target of Rs 185.6 suggests an upside potential of 31.5 percent.
The stock has fallen 0.21 percent in the past five trading sessions. On the NSE, the stock had reached a 52-week high of Rs 173.50 on April 19-22 and a 52-week low of Rs 125.20 on December 20-21, indicating that at the current price level of Rs 141, The stock is trading 18.32 percent below its 52-week high and 13.17 percent above its 52-week low. Based on today’s closing price, GAIL’s stock is trading above 10 days, 20 days SMA and below 5 days, 50 days, 100 days and 200 days Simple Moving Average (SMA).
GAIL, which issued a 1:1 bonus in July 2019, comes with a dividend yield of more than 6 percent.
It reported a 40.6 percent increase in its standalone net profit of Rs 2,683.11 crore for the fourth quarter ended March 31, 2022 as margins on natural gas sales rose.
In the latest development, Sandeep Kumar has been chosen to lead GAIL (India) Ltd. Gupta has been elected to the position of Chairman and General Manager of GAIL and he will replace Manoj Jain, who will retire on August 31.
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