GAIL jumps over 8%

GAIL is the top gainer on the BSE currently, surging over 8% to Rs.428.40, which is not very far away from its 52-week high of Rs.433.50.

The stock is up on the probability that it could soon have an era of uniform pricing, which in turn means a major boost to its bottomline. It is also good news for people like us as it could mean a much lower price for cooking gas.

The Petroleum and Natural Gas Regulatory Board made a proposal that there should now uniform tariff for natural gas.

The Board has proposed a price of Rs.2/ standard cubic metres, which is 60% higher than the average tariff which GAIL currently earns.