Ahmedabad: Gujarat-based companies dealing in natural gas have seen their stocks rally on bourses following the government’s commitment to bring natural gas under goods and services tax and its plans to spend Rs 7.5 lakh crore to build oil and gas infrastructure over the next five years.
In past one month, the state-run city gas distribution company (CGD) Gujarat Gas Ltd’s (GGL) stock price has jumped by 49% to Rs 534 on March 1 from Rs 359 exactly a month ago on February 1.
The company’s stock even made a fresh lifetime high on Monday as well. As a result, the company’s market cap swelled by Rs 12,050 crore to touch Rs 36,763 crore on March 1.
Read more about Oil and Gas stocks rise on Business Standard. Oil and Gas stocks were trading with gains, with the S&P BSE Oil&Gas index increasing 305.17 points or 1.93% at 16149.13 at 09:48 IST.
Oil and Gas stocks edge higher business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Read more about Utilties stocks rise on Business Standard. Utilties stocks were trading with gains, with the S&P BSE Utilities index increasing 41.84 points or 2.04% at 2090.94 at 09:48 IST.
Read more about Oil and Gas stocks jump on Business Standard. Oil and Gas stocks were trading with gains, with the S&P BSE Oil&Gas index increasing 392.8 points or 2.62% at 15369.87 at 09:48 IST.