Shares of gas companies were in limelight today, surging up to 17 per cent, amid reports that the Appellate Tribunal for Electricity (APTEL) gave a favourable verdict to Gujarat State Petronet (GSPL) against Petroleum and Natural Gas Regulatory Board (PNGRB).
Gujarat Gas Company's stock zoomed 16.87 per cent, while Indraprastha Gas rose by 3.93 per cent, Petronet LNG (2.97 per cent) and GAIL (2.75 per cent) and GSPL (2.13 per cent) on the BSE.
"Among other major market moving events, shares of gas companies like GAIL, Petronet LNG, Gujarat Gas and GSPL surged heavily among renewed buying after the Appellate Tribunal for Electricity (APTEL) gave its verdict in favour of GSPL against PNGRB with respect to revision of tariffs," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Ltd.
As per media reports, GSPL had filed litigation against the provisional tariff order determined by PNGRB.
Meanwhile, in the broader market the BSE benchmark Sensex ended the day with a gain of 48.14 points at 28,386.19.
