GAIL (India) Limited and Gujarat Alkalies and Chemicals Limited (GACL) have signed a pact to set up 500 KL/day Bio Ethanol Plant in Gujarat and explore other business opportunities of mutual interest. The MoU was signed in presence of Gujarat Chief Minister Bhupendra Patel.
Meanwhile, a board meeting of the directors of the company is scheduled for December 23, 2021, to consider the interim dividend pay-out for FY 2021-22. If approved by the board, the interim dividend will be paid on December 3, the biggest natural gas distributor in the country said.
Also read: GAIL Q2 results: Net profit rises 131% as gas marketing revenue returns
The Petroleum Ministry PSU reported a net profit after tax of ₹2,862.95 crore during the second quarter of the current fiscal. The company had reported a net profit of ₹1,239.67 crore in the year-ago period.
Meanwhile, GAIL this month launched its start-up initiative, Pankh, to support the budding organisations operating in identified focus areas and plans to invest in these companies.
The GAIL India stock closed at ₹129.70, up 0.15 or 0.12 per cent, on the National Stock Exchange today.