Gail rallies 18% in 3 days after PNGRB simplifies gas pipeline tariff

In the past one month, the stock has surged 42 per cent as against 12 per cent rise in the S&P BSE Sensex

Shares of Gail (India) jumped 8 per cent to Rs 120 on the BSE on Wednesday on the back of heavy volumes in an otherwise subdued market. Trading volumes on the counter nearly doubled with a combined 61 million equity shares changing hands on the NSE and BSE till the time of writing of this report. In comparison, the S&P BSE Sensex was down 0.21 per cent at 44,563 points at 12:35 pm. The stock was trading at its highest level since February 20, 2020. It touched 52-week high of Rs 133 on January 16, 2020.

In the past three trading