Gas distribution stocks rally after PNGRB simplifies gas pipeline tariff

Shares of gas transmission companies rallied up to 19 per cent on the BSE in the early morning trade on Friday after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure. The tariffs will be applicable based on two zone structure related to distance from source of gas.

Among individual stocks, Gujarat Gas soared 19 per cent to Rs 411 on the BSE on the back of heavy volumes. Indraprastha Gas, on the other hand, was locked in the 10 per cent upper circuit at Rs 492. Meanwhile, Mahangar Gas surged 10 per cent to Rs 1,023, Adani Gas gained 9 per cent to Rs 345, Gujarat State Petronet (GSPL) added 18 per cent to Rs 243, and Gail was up 4 per cent to Rs 107 in the intra-day trade today.