GAIL surges as PNGRB revises KG Basin gas tariff

NEW DELHI: Shares of natural gas processing and distribution company, GAIL, ended higher 4.04 per cent on Thursday after natural gas regulator revised the company’s KG Basin gas prices.

Reacting to the development, the stock gained 6.04 per cent to hit a high of Rs 359 on the BSE.

The Petroleum And Natural Gas Regulatory Board (PNGRB) revised GAIL India, KG Basin pipeline tariff to Rs 45.32/mbtu. The regulator also caps the GAIL KG pipeline tariff at Rs 5.56/mbtu till March end. GAIL's new tariff for KG pipeline from April 1 to Feb 11, 2017.