Gas distribution stocks rally after PNGRB simplifies gas pipeline tariff

Gujarat Gas soared 19%, Indraprastha Gas hit 10% upper circuit, while Mahangar Gas, Adani Gas and GSPL were up between 9% and 18% on the BSE

Shares of gas transmission companies rallied up to 19 per cent on the BSE in the early morning trade on Friday after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure. The tariffs will be applicable based on two zone structure related to distance from source of gas.

Among individual stocks, Gujarat Gas soared 19 per cent to Rs 411 on the BSE on the back of heavy volumes. Indraprastha Gas, on the other hand, was locked in the 10 per cent upper circuit at Rs 492. Meanwhile, Mahangar Gas surged 10 per