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Gas stocks gain up to 10%; seen as key anti-pollution plays

Gas stocks rallied up to 10 per cent in trade on Wednesday as these are seen as key anti-pollution plays in markets.

BT Online | December 16, 2015 | Updated 16:30 IST
Gas stocks gain up to 10%; seen as key anti-pollution plays
GAIL and Indraprastha Gas were among top gainers among BSE 'A' group stocks. Photo: Reuters

Gas stocks such as GAIL, Indraprastha Gas, Gujarat Gas and Petronet LNG rallied up to 10 per cent in trade on Wednesday as these are seen as key anti-pollution plays in markets.

The stock of Gujarat Gas ended 5.72 per cent higher after surging as much as 10.42 per cent to Rs 627.50 on the Bombay Stock Exchange.

GAIL and Indraprastha Gas were among top gainers among BSE 'A' group stocks. Former gained 5.92 per cent, while latter rose 5 per cent in intraday trade.

Petronet LNG hit an intraday high of Rs 245.30, up 2.59 per cent.
 
The government and Supreme Court's recent focus on pollution will benefit gas companies to log better revenues.

The Supreme Court on Wednesday ordered a temporary ban on the sale of large diesel cars in New Delhi and hiked a levy on trucks entering the city, as highly polluted capital seeks ways to tackle one of its worst-ever bouts of toxic smog.

Meanwhile, temporary Delhi diesel vehicle ban leaves automakers in dark and investors jittery.

Reacting to the news, the stock of Mahindra & Mahindra slumped over 6 per cent on BSE.

(With inputs from Reuters)

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