Price hike boost! Gail India, Petronet, Gujarat Gas may rally up to 11%

Natural Gas related stocks were in focus on the back of CNG and piped gas price hike in several northern India cities

The shares of companies related to Natural Gas were trading in green with strong positive sentiment as the prices of Compressed Natural Gas (CNG) and piped natural gas (PNG) were hiked with effect from October 13, 2021 in several cities in North India.

Shares of Indraprastha Gas Limited and Gujarat Gas Limited were trading with significant volume from the start of trading session.

GAIL (India) Limited (GAIL)
Likely target: Rs 190 (after closing above Rs 170)
Upside potential:  11%

As long as the shares of GAIL (India) Limited  trades above the 200-day moving average (DMA), currently placed at