Reports of 10 per cent stake sale in Petronet LNG (PLNG) to Qatar Petroleum led to an 8.27 per cent rise in PLNG's shares to Rs 37.7. Qatar has committed to sell six LNG cargoes in the first half of 2009 and it may export an additional 18 cargoes on request.
Negotiations are also on, to get a long-term supply deal for meeting fuel needs of the Dabhol power plant. The stock made an intraday high of Rs 39.75 and a low of Rs 34.5, with trading volumes of 2.7 million shares (about 2.5 times higher than its two-week average).
