Nearly a month after the conflict between utility firm Indraprastha Gas and the regulator Petroleum and Natural Gas Regulatory Board (PNGRB), the Delhi High Court is expected to deliver its final verdict today. With this, all the gas stocks are trading higher by 1-3%.
Indraprastha Gas is currently trading at Rs. 224.30, up by 6.80 points or 3.13% from its previous closing of Rs. 217.50 on the BSE. The scrip opened at Rs. 219.00 and has touched a high and low of Rs. 227.45 and Rs. 217.00 respectively. So far 650935 shares were traded on the counter.
GAIL (India) is currently trading at Rs. 329.00, up by 10.20 points or 3.20% from its previous closing of Rs. 318.80 on the BSE. The scrip opened at Rs. 322.00 and has touched a high and low of Rs. 331.70 and Rs. 322.00 respectively. So far 65081 shares were traded on the counter.
Gujarat Gas Company is currently trading at Rs. 326.55, up by 4.40 points or 1.37% from its previous closing of Rs. 322.15 on the BSE. The scrip opened at Rs. 323.20 and has touched a high and low of Rs. 328.70 and Rs. 323.20 respectively. So far 8963 shares were traded on the counter.
In April 2012, PNGRB had directed IGL to cut network tariff by around 60% retrospectively from April 2008 which mounted the total refund at around Rs 1,500 crore. This news had tumbled the IGL stocks by 30-35% besides hurting the other scrips in the gas sector.
| Company Name | CMP |
|---|---|
| GAIL India | 157.80 |
| Gujarat Gas | 362.60 |
| Indraprastha Gas | 169.25 |
| Mahanagar Gas | 1125.45 |
| Adani Total Gas | 632.90 |
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