Share price of this large-cap Maharatna stock moved up by nearly 1.57% on BSE to Rs. 183.35 in the morning trading session of March 27th, compared to its previous closing price of Rs. 180.5, after a few sources say that the company is set to commission its first hydrogen project.
With a market capitalisation of Rs. 1.19 lakh crores, at 10:49 a.m. the share price of GAIL (India) Limited was trading in the green at Rs. 182.55, up by 1.14 percent.
In the last one year, the company has delivered positive returns of about 75.6 percent and nearly 50.5 percent in the last six months. So far in 2024, it has given around 9.7 percent of positive returns.
According to Reuters and several other sources, GAIL (India) Limited is planning to commission India’s first green hydrogen project in April.
A 10 MW proton exchange membrane electrolyser for the green-hydrogen production unit at the Vijaipur complex in Madhya Pradesh was imported from Canada.
Furthermore, the sources stated that once operational, the production unit is expected to generate roughly 4.3 metric tonnes of hydrogen per day, with a purity level of 99.99% by volume.
The green hydrogen production unit will use renewable power sources, in accordance with India’s ambitious goal of producing 5 million tonnes of green hydrogen production capacity annually by 2030.
This project represents a big step forward in the country’s search for cleaner and more sustainable energy solutions.
In terms of financials, the company’s revenue from operations grew by 5.2 percent from Rs. 32,986 crore in Q2 FY23-24 to Rs. 34,698 crore in Q3 FY23-24.
The net profit of the company also increased by 30.7 percent to Rs. 3,193 crore in Q3 FY23-24 from Rs. 2,442 crore in Q2 FY23-24.
As of December 2023, FIIs hold 14.24 percent of the shares, whereas DIIs hold 19.37 percent of the shares in the company, aggregating to 33.61 percent of the institutional holdings.
Incorporated in 1984, GAIL (India) Limited is India’s leading natural gas company having operations across the natural gas value chain of trading, transmission, LPG production & transmission, LNG re-gasification, petrochemicals, city gas, E&P, and more.
GAIL has around 70% market share in gas transmission and a gas trading share of more than 50% in India.
Written by Shivani Singh
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