Gail Shares Jump 5% On Monday; Here’s Why – News18
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Gail shares surged 5% after proposed amendments to the Natural Gas Pipeline Tariff Regulations, 2008. The stock traded at Rs 183.65, with a 52-week high of Rs 246.35.
Gail Shares Jump
Gail Share Price: Shares of Gail (India) surged 5 percent during intraday trading on Monday after proposed amendments to the Natural Gas Pipeline Tariff Regulations, 2008. The Petroleum and Natural Gas Regulatory Board (PNGRB) is seeking public comments on these changes by April 11, according a report by CNBC TV-18.
The scrip was trading at Rs 183.65 apiece with a gain of 5.13 per cent around 11:18 AM on Monday. The 52-week high and low of the stock stood at Rs 246.35 and Rs 150.60, respectively.
According MoneyControl report citing Morgan Stanley’s outlook on gas stocks, regulatory changes in long-haul gas operations will benefit transporters and upstream producers, but returns for city gas players and Petronet LNG may simply stabilize. The primary beneficiaries are Gail India, Oil India, and Reliance Industries, with Gujarat State Petronet following.
The outlook also notes that gas pipeline transmission companies are expected to gain from four proposed tariff changes. Although end consumers might face higher costs due to increased pipeline tariffs, those using gas over longer distances may still see reduced costs.
The Petroleum and Natural Gas Regulatory Board’s (PNGRB) proposed amendments to gas transmission tariff determination regulations are currently open for public consultation. An open house discussion is scheduled for mid-April 2025.
