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ICICI Direct Report
GAIL India Ltd. is a gas utility company with various business segments such as gas transmission and trading, liquefied petroleum gas, liquid hydrocarbon and petrochemicals.
GAIL India had made an announcement regarding bonus issue on July 27. The issue of bonus shares is in the ratio of 1:2 i.e. one new bonus equity share each for every two existing equity shares.
Ex-bonus date is today i.e. September 6 and record date for the same is September 7. Accordingly, the share price has been adjusted to opening price of Rs 91/share against closing price of Rs 137/share yesterday.
Key triggers for future price performance:
Pick-up in gas transmission volume.
Gas trading is expected to report healthy gains in the near term due to favorable spot LNG prices.
Consistent dividend payout.
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