Gas stocks in focus: Trading strategies for Gujarat Gas, MGL, Adani Total

The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.

Shares of natural gas companies were seen trading with robust gains on Wednesday post an impressive financial performance by the companies in the recently concluded March quarter. Gujarat Gas and Mahanagar Gas reported a 36 per cent and 51 per cent improvement in total revenues during the quarter. 

Shares of Gujarat Gas opened 6 per cent higher and rallied to an intra-day high of Rs 555, surging over 9 per cent so far in the day. Mahanagar Gas too gained nearly 7 per cent in trades so far. Meanwhile, Gujarat State Petronet added 4 per cent, while Petronet LNG  and