Gas stocks surge up to 7% post SC ruling on CNG taxis

Stocks of gas companies surged up to 7 per cent today after the Supreme Court ruled that only CNG-run taxis will be allowed to ply in Delhi-NCR to curb rising levels of pollution.
Shares of Indraprastha Gas gained 6.79 per cent to Rs 500.35, while Gujarat Gas surged 5.72 per cent to Rs 600.75 on BSE.
Gail (India) also rose by 1.34 per cent to Rs 344.05.
"Shares of gas stocks GAIL and Gujarat Gas remained in action today after the stocks rallied in light of continued anti-pollution drive in Delhi and National Capital Region," said Achin Goel, Head of Wealth Management and Financial Planning at Bonanza Portfolio Ltd.

Diesel-run sports utility vehicles (SUVs) and high-end private cars with engine capacity of 2,000 cc and above will not be registered in Delhi and National Capital Region till March 31, 2016, the Supreme Court ordered today, as it unveiled a slew of measures to curb the alarming rise in pollution levels in the national capital.
It also directed that "all taxis including those operating under aggregators like Ola and Uber in the NCT of Delhi, plying under city permits, shall move to CNG not later than 1st March, 2016.