IGL takes over two major steel pipelines from Gail
NEW DELHI: Indraprastha Gas Ltd on Monday said it has taken over two major steel pipelines of state-owned utility GAIL to streamline operations and maintenance of gas pipeline infrastructure in the national capital.
The pipelines, measuring 58.5 km, connect GAIL DESU terminal near ITO with Maruti terminal in Gurugram and Khera Kalan village near Rohini and form a major part of the network of supply of natural gas in the national capital.
A ceremony to mark handing over the pipelines to IGL was held on Monday morning at GAIL DESU Terminal, the company said in a statement.
Delhi receives its natural gas supply from Hazira Vijaipur Jagdishpur (HVJ) pipeline of GAIL (India) Ltd, at two terminals – DESU terminal near ITO and Maruti terminal in Gurugram.
GAIL had been operating 34 km long pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITO along Ring Road and 24.5 km long pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring ROAD.IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi.
"With this transfer of pipelines, the entire ring of natural gas pipeline infrastructure in the capital would be maintained by IGL," the statement said.
IGL Managing Director E S Ranganathan said the transfer will help in further increasing the efficiency in operation and maintenance of City Gas Distribution network in the national capital and IGL will leverage its network of control rooms across the region to further reduce the downtime for addressing any exigency. NEW DELHI: Small and midcap stocks on BSE have given handsome returns of up to 27 per cent to investors so far this year, outshining their large peers.
While the mid-cap index soared 2,767.11 points or 23 per cent, gains were sharper for small-cap index which recorded a surge of 3,326.38 points or 27.61 per cent, shows an analysis of their performance so far this year.
On the other hand, the GUWAHATI: Oil India Limited (OIL), India's second largest National Exploration & Production Company, through its exploratory efforts has made two Hydrocarbon Discoveries in the Moran Petroleum Mining Lease (PML) in the Upper Assam Basin in the month of April 2017 in the wells Borbhuibil-1and Lakwagaon-1.
The well Borbhuibil-1 encountered multiple sands in Barail and Lakadong+therria formations. On testing, a 15m Barail sand at a depth of 3322m produced oil at the rate of 28 m3/d.
A 10m Lakadong+therria sand at a depth of 4300m produced oil at the rate of 100 m3/d. The feasibility of bringing the discovery on production at the earliest is under study. 30-share bluechip index Sensex has gained 3,291.94 points or 12.36 per cent.
The index hit an all-time high of 30,184.22 on Thursday.
As for the mid-cap index, it scaled a record high of 14,849.66 on Wednesday and small-cap index 15,486.40 level on the same day as well.
Also, total foreign inflow has reached Rs 91,385 crore ($14 billion) so far this year in the capital markets (equity and debt).
"A rally in midcap stocks raises confidence among aspirational small-cap and midcap companies that they too may get good valuation riding on investor appetite for such papers," said Paras Bothra, President - Equity Research, Ashika Stock Broking.
Market experts say smaller stocks are generally bought by local investors, while overseas investors go for blue-chips.
The mid-cap index tracks companies with a market value that is on an average one-fifth of blue-chips or large firms.
Small-cap firms are almost a tenth of that.
"Political outcomes in European elections and geopolitical tensions escalating will keep things interesting on the global news flow side, while monsoon panning out should keep us on our toes domestically," Kunj Bansal, Executive Director & CIO Equity , Centrum Wealth Management has said.