GAIL India gains 8% as PNGRB proposes unified tariff

At 10:06 am, the stock was up 6.5% to Rs 422 on BSE, as compared to 0.4% rise in the S&P BSE Sensex

GAIL India rallied 8% to Rs 428 on BSE in early morning trade after media reports suggested that the Petroleum and Natural Gas Regulatory Board (PNGRB) has proposed consultation on integrated authorization for unified/pooled tariff for all connected pipelines of the company.

Notably, the aforementioned proposal has already been approved by the Cabinet Committee on Economic Affairs (CCEA) and petroleum ministry has to decide based on PNGRB recommendations.

Analysts at Elara Capital believe any positive development in this regard would be significant positive for GAIL as its present weighted average transportation tariff is Rs 37.1/mmbtu, and GAIL has