Gujarat State Petronet up on RIL deal

DALAL STREET SPIKES

On a day when the bears were out in full swing, Gujarat State Petronet (GSPL) was up over 1.7 per cent to Rs 47.55 on volumes of over 1.5 lakh shares as it entered into an agreement with Reliance Industries (RIL) to transport 11 MSMCMD of natural gas from Bhadbhut in Bharuch to the company's refinery and petrochemical complex in Jamnagar.

Under this agreement, for the transportation of the gas, GSPL would use its existing pipeline and develop new pipelines between Bharuch to Hadala and Rajkot to Jamnagar. GSPL, a subsidiary of GSPC is a prominent player in the energy transportation infrastructure.