Shares of Gujarat Gas Company continued their upward journey, hitting a new high of Rs 674.80 after they advanced 6 per cent on the BSE in intra-day trade on Thursday. In the past four weeks, the stock of the integrated oil and gas firm has rallied 32 per cent after the company reported a strong set of numbers for the quarter ended March (Q4FY21). In comparison, the S&P BSE Sensex is up 5.6 per cent during the same period.
“Gujarat Gas reported a beat on our numbers, driven by better than-estimated EBITDA/scm (Rs 5.1) and volume growth (up 22 per cent YoY to 12.1mmscmd). Morbi volumes stood at 7.3 mmscmd (up 33 per cent YoY), while compressed natural gas (CNG) achieved highest ever quarterly volumes.
