Gujarat Gas gains after approval for new geographical areas

Gujarat Gas was up 3.4% to Rs 150.60 at 11:31 IST on BSE after the company received grant of authorization for city gas distribution networks.

The announcement was made after market hours yesterday, 3 April 2019. Meanwhile, the S&P BSE Sensex was down 65.06 points or 0.17% at 38,812.06

On the BSE, 64,000 shares were traded on the counter so far as against average daily volumes of 1.92 lakh shares in the past two weeks. The stock had hit a high of Rs 155 and a low of Rs 148.30 so far during the day.

Gujarat Gas announced the acceptance of grant of authorisation for geographical area of Sirsa, Fatehabad and Mansa (Punjab) districts; Ujjain (except area already authorized) district, Dewas (except area already authorized) district and Indore (except area already authorized) district; Jhabua, Banswara, Ratlam and Dungarpur districts; Ferozepur, Faridkot and Sri Muktsar Sahib districts; Hoshiarpur and Gurdaspur districts; Jalore and Sirohi districts.

Gujarat Gas (formerly known as GSPC Distribution Networks), is India’s largest city gas distribution player with presence spread across 23 Districts in the State of Gujarat including the newly awarded Geographical Area (GA) of Narmada (Rajpipla) District and Union Territory of Dadra Nagar Haveli and Thane GA which includes Palghar District of Maharashtra. The company has India’s largest customer base in Residential, Commercial and Industrial segments.