GAIL jumps 4% on request to divide company into 2 verticals
NEW DELHI: Shares of Gail jumped 4 per cent in Monday’s amid an agency report suggesting the company has approached the Oil Ministry with a request to split it into two verticals.
Earlier in February, PTI quoting sources suggested that the Oil Ministry had moved a cabinet note seeking approval for hiving off the state-owned gas utility GAIL’s pipeline business into a separate entity for a possible sale to a strategic investor at a later date.
