GAIL major gainer on BSE Oil & Gas Index

MUMBAI: Shares of GAIL India surged over 11 per cent on Wednesday, becoming the major gainer in BSE Oil & Gas Index.

At 11:07 am, the share was at Rs 461.30, up 7.44 per cent or Rs 32. It touched a high of Rs 477 and low of Rs 434 in trade so far. Volumes were high at 5,43,591 shares against two-week average of 4,19,963 shares.

There are reports that the company is looking at acquiring stake in a Nigerian LNG plant and has expressed interest in setting up a gas-based petrochemical plant.

GAIL is scouting for LNG for the 2,184 MW Dhabol power plant in Maharashtra and also for meeting the gas deficit in the country.

The share has gained 22.52 per cent in the past one-month.