Gujarat Petronet up on capacity increase

DALAL STREET SPIKES

Gujarat State Petronet shares increased 9.2 per cent to Rs 32.10 on reports that the company has raised the capacity of its planned five-million tonne liquefied natural gas (LNG) terminal by 30 per cent.

It is believed the investment in enhancement of planned capacity by 2013 will be lower due to the sharp fall in prices of metals such as steel and nickel. The stock made an intraday high of Rs 33.25 and a low of Rs 29.50, with trading volumes of 2.93 million shares (close to three times its two-week average).