Gujarat Gas gains ahead of merger

Gujarat Gas Company zoomed 7.6% to Rs 533 on the BSE on news of merger.

Gujarat Gas Company zoomed 7.6% to Rs 533 on the BSE after Gujarat Finance Minister Saurabh Patel announced that the above mentioned company and Gujarat State Petroleum Corporation (GSPC) will be merged this year.

 

This merged entity is bound to become India’s biggest gas distribution company.

The stock opened at Rs 509, touched a high of Rs 579 and a low of Rs  504 on the BSE. A total of 1,068,905 shares have been exchanged on the BSE so far.