Oil and gas shares flare as govt plans to spend Rs 7.5 trn on related infra

Gujarat Gas, Gujarat State Petronet and Indraprastha Gas rallied up to 18 per cent on the BSE in intra-day trade

Shares of oil and gas companies advanced up to 18 per cent in intra-day trade on the BSE on Thursday after Prime Minister Narendra Modi said the government is planning to invest Rs 7.5 trillion to build oil and gas infrastructure over the next five years.

Shares of Gujarat Gas zoomed 18 per cent to Rs 527, followed by Gujarat State Petronet (11 per cent to Rs 266), Indraprastha Gas (9 per cent to Rs 595), Mahanagar Gas (7 per cent at Rs 1,229) and Gail (India) and Oil and Natural Gas Corporation (ONGC) by 5 per cent at