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Bonus bounty talks catapult GAIL (India) to new high

September 24, 2007

As per reports, the issue of bonus shares was discussed at the meeting of inter-ministerial comittee (IMC).

At the current price of Rs 369, the scrip trades at a PE multiple of 11.38, based on Q1 June 2007 annualised EPS of Rs 32.41.

As per reports, the issue of bonus shares was discussed at the meeting of inter-ministerial comittee (IMC).

Report suggested that in terms of Department of Public Enterprises (DPE) guidlines, central public sector enterprises (CPSEs) having reserves and surplus more than three times of their paid up capital are expected to declare bonus shares.

On a paid up capital of Rs 845.65 crore, total reserves of GAIL (India) the company stood at Rs 10,547.26 crore, which is about 12.5 times of the paid up capital.

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