Gas distribution companies stocks surge; IGL, Mahanagar Gas jump over 10%
Shares of gas distribution companies IGL and Mahanagar Gas surged over 10% after Oil regulator PNGRB has simplified the country’s gas pipeline tariff structure to make the fuel more affordable for distant users and to attract investment for building gas infrastructure.
IGL shares jumped 13% to ₹506.15 while Mahanagar Gas surged 11% to ₹1,032 at 11:13 am today on BSE. Adani Gas and Gujarat Gas shares were also up over 5% each.
The Petroleum and Natural Gas Regulatory Board (PNGRB) has notified regulations for a ‘unified’ tariff structure for over a dozen pipelines that form the National Gas Grid which will lead to a 20-30 per cent rise in transportation charges paid by users near the source but a reduction for consumers in the hinterland.
