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Gujarat Gas hits fresh all-time high; stock rallies 35% in a month

The firm has been permitted to take over activities of laying, building, operating or expanding CGD network of Amritsar District GA and Bhatinda District GA

As emphasised in the 2020 Budget speech, about 27,000 km of national gas grid pipeline would be completed in the coming years connecting Kutch to Kohima and Kashmir to Kanniyakumari
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As emphasised in the 2020 Budget speech, about 27,000 km of national gas grid pipeline would be completed in the coming years connecting Kutch to Kohima and Kashmir to Kanniyakumari

SI Reporter Mumbai
Shares of Gujarat Gas gained 5 per cent and hit a fresh all-time high of Rs 324 on the BSE on Tuesday after the oil regulator sanctioned the transfer of two geographical areas (GAs) from Gujarat State Petronet to the company.

“The Petroleum and Natural Gas Regulatory Board (PNGRB) vide letter dated June 29, 2020 had accepted proposal for transfer of authorization of Amritsar District GA and Bhatinda District GA from Gujarat State Petronet to Gujarat Gas,” the company said in an exchange filing.

The company is required to submit revised financial closure, gas supply agreement and PBG

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First Published: Jun 30 2020 | 11:43 AM IST

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