April 23, 2019 / 4:47 AM / 4 months ago

BUZZ-India's GAIL hits near 2-month low on deal to buy IL&FS' wind assets

** Shares in GAIL (India) Ltd fall as much as 3.8 pct to 331.70 rupees to their lowest since Feb 27

** State-run natural gas distribution co is set to buy 7 wind power plants from debt-ridden Infrastructure Leasing and Financial Services for 48 bln rupees ($690.25 mln), IL&FS said on Monday

** GAIL’s offer contemplates no hair-cut to the debt of the plants, which is around 37 bln rupees

** India govt took control of IL&FS after it defaulted on some of its debt

** GAIL shares post biggest intraday pct fall since March 29; stock top pct loser on NSE index

** More than 3.9 mln shares traded by 0440 GMT vs 30-day avg of 3.8 mln shares

$1 = 69.5400 Indian rupees

0 : 0
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