Shares of Gail (India) jumped 8 per cent to Rs 120 on the BSE on Wednesday on the back of heavy volumes in an otherwise subdued market. Trading volumes on the counter nearly doubled with a combined 61 million equity shares changing hands on the NSE and BSE till the time of writing of this report. In comparison, the S&P BSE Sensex was down 0.21 per cent at 44,563 points at 12:35 pm. The stock was trading at its highest level since February 20, 2020. It touched 52-week high of Rs 133 on January 16, 2020.
In the past three trading days, the stock of Gail (India) has rallied 18 per cent after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure.
