GAIL shares slump over 6% on PNGRB’s lower-than-expected transmission tariff revision

Shares of GAIL (India) dropped as much as 6.5% intraday to Rs 171.80 on the BSE on Friday, following investor concerns around the latest tariff order issued by the Petroleum and Natural Gas Regulatory Board (PNGRB) for the company’s Integrated Natural Gas Pipeline (INGPL) network.

The regulatory order revised GAIL’s unit natural gas pipeline tariff to Rs 77.98/MMBTU effective January 1, 2025, up from the current Rs 58.61/MMBTU. However, the revision is lower than expected, given the company’s rising operating and capital costs.