In the early morning trade on Friday, shares of gas transmission companies rallied up to 19 per cent on BSE following the notification of Petroleum and Natural Gas Regulatory Board (PNGRB) for unified gas transmission tariff structure.
At 9:26 am, Gujarat Gas jumped 19 per cent to Rs 411 on the BSE, Indraprastha Gas locked in upper circuit at Rs 492, while Mahanagar Gas surged 10 per cent to Rs 1,023 and Adani Gas 9 per cent up at Rs 345, Gujarat State Petronet (GSPL) soared 18 per cent to Rs 243, Gail was 4 per cent high at Rs 107. On the other hand, S&P BSE Sensex stood flat at 44,259.
The oil regulator simplified the country’s gas transmission tariff structure for making fuel more affordable for distant users and to attract investments for building gas infrastructure. PNGRB notified regulations for ‘unified’ tariff structure over a dozen pipelines which are applicable on two zone structure to form the National Gas Grid for leading a 20-30 per cent rise in the transportation charges paid by the users.