GUJGASLTD.NSEGujarat Gas Ltd
GUJGASLTD.NSE
Gujarat Gas Ltd345
Adani Total Gas shares surge 20 pc; other gas stocks advance
Ahmedabad, March 11 : Shares of Adani Total Gas surged 20 per cent to hit the upper circuit on Wednesday, extending gains even as India faces a deepening natural gas supply crunch. The sharp rally came after the company said domestic piped natural gas (PNG) and compressed natural gas (CNG) used for transport have received priority allocation under a recent order by the Indian Government. The stock also witnessed heavy trading activity during the session. Average volumes at the counter jumped more than 20 times, with a combined 16.44 million shares changing hands on the National Stock Exchange of India and the BSE. The company operates in the city gas distribution business, supplying natural gas to domestic, commercial, industrial and vehicle users. Other gas stocks also followed suit and surged during intra-day trade despite market sell-off. Gujarat Gas jumped nearly 12 pc to Rs 420 and end 3.96 per cent higher at Rs 390 during the session. Petronet LNG, GAIL (India), Indraprastha Gas (IGL) and Mahanagar Gas (MGL) are the other gas-linked companies which saw buying during the session and end higher up to 2 per cent.
cityfalcon.com·24d ago
Adani Total Gas to Gujarat Gas, GAIL: Gas stocks surge up to 15% as US-Iran conflict raises supply concerns
The US-Iran conflict escalates, affecting global gas prices and supply routes, particularly through the Strait of Hormuz. Domestic gas prices in India have surged, with stock gains in gas companies. Despite President Trump's optimism about sanctions, risks remain high as tensions continue.
cityfalcon.com·25d ago
India’s small steelmakers face production cuts amid LNG shortages due to Iran war
NEW DELHI: Scores of small Indian steel producers have warned of production cuts as the escalating Middle East conflict disrupts gas supplies to the world’s biggest producer of the alloy after China, industry officials said. “We are looking at a 50% production cut as of now and a complete halt ahead, if supplies don’t improve within a week,” Yogesh Kanakiya, director at Triveni Iron and Steel Industries, told Reuters . Triveni Iron and Steel Industries is based in the western state of Gujarat, the country’s largest gas-consuming region, which relies on the Middle East for much of its liquefied natural gas. Several small steel mills in Gujarat depend on imported LNG. Most gas producers, including Gujarat Gas declared force majeure last week to restrict gas supplies to industries. “We work on wafer thin margins and our margins have shrunk,” said Anshum Goyal, managing director and promoter at Friends Steel Group in Gujarat. “We are concerned over supplies and it is affecting our decision-making in terms of prices we need to keep.” Indian industries face LNG supply cuts as Middle East conflict disrupts Gulf shipments Producers in other parts of India are also grappling with rising coal costs fuelled by geopolitical tensions, adding pressure on margins.
cityfalcon.com·25d ago
As Iran conflict enters 10th day, a fourth of ceramic units in Gujarat’s Morbi shut down amid fuel shortage
… curtailment in the supply of natural gas to the ceramics industry in … local traders. Consumption of natural gas is approximately 25 lakh … units that have both natural gas pipelines and tankers to … , Gujarat Gas has curtailed natural gas supply to 50 per …
cityfalcon.com·26d ago
Sanand industries flag production risks amid reduced gas supply
Ahmedabad: The Sanand Industries Association (SIA) held a joint meeting with officials of Gujarat Gas Limited and industrial representatives from GIDC.
cityfalcon.com·26d ago
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