Gail To Consider Issuance Of Bonus Share Issue In Its July 27 Meet

The gas transmission and marketing company Gas Authority of India Ltd. (GAIL) in a filing dated July 22, 2022 announced that its board shall meet on July 27, 2022 for considering issuance of bonus shares. The filing by the company said, "the meeting of the Board of Directors of the Company is scheduled on 27/07/2022 ,inter alia, to consider and approve Dear Sir/Madam, This is to inform that a meeting of the Board of Directors of GAIL (India) Limited is scheduled on Wednesday, 27th July 2022 to, inter-alia, consider issuance of Bonus Shares by the Company.

Further, in continuation to our letter of even no. ND/GAIL/SECTT/2022 dated 28th June, 2022 (attached), it is again informed that the Trading Window for dealing in securities of GAIL was closed for Designated Persons and their Immediate Relatives w.e.f. 1st July, 2022 and shall remain closed till 48 hours after the conclusion of the Board Meeting wherein the financial results for the quarter ended 30th June 2022 would be considered and approved. This is in compliance of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015".

The company's March ended results for the fiscal year 2022 recorded an increase in revenue from operations both sequentially as well as YoY. Net profit though logged a decline to Rs. 2683.11 crore sequentially but logged an increase YoY.

Gail is a Maharatna integrated energy company in the hydrocarbon sector. The Company's products and services include natural gas marketing and transmission, petrochemicals, and liquid hydrocarbons production (LPG, propane and naphtha).