GAIL awarded for making highest procurement among CPSEs through GeM portal

GAIL (India) Limited was today awarded by Government e Marketplace (GeM) for making the highest procurement of Rs 1,033 crore among Central Public Sector Enterprises through the GeM portal in 2020-21.

Accepting the award, GAIL Chairman and Managing Director Shri Manoj Jain said GAIL was continuously striving to increase its procurement through GeM. He also thanked GeM for accepting GAil's suggestion to facilitate procurement of critical items like linepipes through its portal for the first time.

Government e Marketplace facilitates online procurement of common use Goods & Services required by various Government Departments, organisations, PSUs.

GAIL Director (Finance) Shri A K Tiwari was also present on the occasion. The award was presented by Shri P K Singh, CEO of GeM.

In the current financial year, GAIL has made procurement of Rs 526 crore through the GeM portal till July 2021.

Shares of Gail (India) Ltd. was last trading in BSE at Rs. 147.1 as compared to the previous close of Rs. 144.9. The total number of shares traded during the day was 1428847 in over 9736 trades.

The stock hit an intraday high of Rs. 148.4 and intraday low of 144.35. The net turnover during the day was Rs. 208868133.

Source : Equity Bulls

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