GAIL slips 3% as co mulls closure of power plants near metros

NEW DELHI: Shares of GAIL slipped over 2 per cent in Tuesday's trade as gas producers mull closure of coal-based power plants near metros. The company is believed to be focusing on cleaner gas as a source of electricity generation.

In reaction to the development, the scrip lost 2.33 per cent to hit a low of Rs 349.20 on the BSE.

GAIL Chairman and Managing Director, B C Tripathi, said, “Besides Badarpur power plant in Delhi, the nearby Dadri station too needs to be shut. All thermal (coal)-based plants in big cities and metros have to be looked into (for closure).”

(With inputs from ET)