GAIL (India) and Petron Scientech Inc (Petron) have inked a Memorandum of Understanding (MoU) to jointly explore setting up of a 500 Kilo Tons per Annum (KTA) bio-ethylene plant along with its downstream unit(s) in India, based on bioethanol produced in the plant in a 50:50 Joint Venture (JV) mode.In line with the MoU, GAIL and Petron will jointly undertake feasibility studies to ascertain technical viability and financial prospects of the project. Both the parties endeavour to secure investment approval from their respective management for investment in the project and forming a JV company.Powered by Capital Market - Live News

Net profit of GAIL (India) rose 77.63% to Rs 3182.93 crore in the quarter ended June 2024 as against Rs 1791.85 crore during the previous quarter ended June 2023. Sales rose 5.94% to Rs 34737.77 crore in the quarter ended June 2024 as against Rs 32788.63 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales34737.7732788.63 6 OPM %13.798.11 - PBDT5266.013004.16 75 PBT4113.822282.51 80 NP3182.931791.85 78 Powered by Capital Market - Live News

GAIL (India) announced that the 40th Annual General Meeting (AGM) of the company will be held on 28 August 2024.Powered by Capital Market - Live News

GAIL (India) will hold a meeting of the Board of Directors of the Company on 30 July 2024.Powered by Capital Market - Live News

GAIL (India) intends to set up a 1500 KTA Ethane Cracker Project at Ashta, Distt. Sehore in Madhya Pradesh, having product slate of various ethylene derivatives. The company has submitted its request to the Madhya Pradesh State Government for providing suitable enablers for the project. Around 800 hectares of land shall be provided by the MP Industrial Development Corporation, for which state government has already initiated the process. Investment approval from GAIL`s Board shall be sought after favourable outcome on enablers. The estimated investment in the project is Rs 60,000 crore. Powered by Capital Market - Live News