GAIL Bonus Shares: PSU stock GAIL has announced that its board shall meet on July 27, 2022 for considering the issuance of bonus shares. The filing by the company said, “the meeting of the Board of Directors of the Company is scheduled on 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 is scheduled on Wednesday, 27th July 2022 to, inter-alia, consider issuance of Bonus Shares by the Company. Further, in continuation to our letter of even no. ND/GAIL/SECTT/2022 dated 28th June, 2022 (attached), it is again informed that the Trading Window for dealing in securities of GAIL was closed for Designated Persons and their Immediate Relatives w.e.f. 1st July, 2022 and shall remain closed till 48 hours after the conclusion of the Board Meeting wherein the financial results for the quarter ended 30th June 2022 would be considered and approved. This is in compliance of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015″.
Gail is a Maharatna integrated energy company in the hydrocarbon sector. The Company’s products and services include natural gas marketing and transmission, petrochemicals, and liquid hydrocarbons production (LPG, propane, and naphtha).
Stock Price History
The gas utility stock, which has given a return of 7.72 per cent so far in 2022, ended 1.6 per cent lower today at Rs 141.55. Out of the 28 analysts covering the stock, none of them have a sell rating on GAIL. The average target price of Rs 185.6 suggests a potential upside of 31.5 per cent.
The stock has fallen 0.21 per cent in the previous five trading sessions. On the NSE, the stock had touched a 52-week-high of Rs 173.50 on 19-April-22 and a 52-week-low of Rs 125.20 on 20-December-21 which indicates that at the current price level of Rs 141.70 the stock is trading 18.32 per cent below the 52-week-high and 13.17 per cent above the 52-week-low. Based on today’s closing price, the shares of GAIL are trading higher than 10-day, 20-day SMA and lower than 5 days, 50 days, 100 days and 200 days Simple Moving Average (SMA).
GAIL, which had issued a 1:1 bonus in July 2019, comes with a dividend yield of more than 6 per cent.
It reported a surge of 40.6 per cent in its standalone net profit at Rs 2683.11 crore for Q4 ended March 31, 2022 as margins on natural gas sales spiked.
In the latest development, Sandeep Kumar has been chosen to lead GAIL (India) Ltd. Gupta has been chosen for the position of chairman and managing director of GAIL and he will replace Manoj Jain who is slated to retire on August 31.
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