Gujarat Gas 'rises' up and up
Gujarat Gas is the top gainer on the BSE currently, up over 13.5% or by Rs.91 at Rs.758, with an intra day high at Rs.766.90. Volumes have jumped up over 3 times. Its 52-week high stands at Rs.812.55.
The company updated the Exchanges on 13th late evening that it has received authorisation from the market regulator, Petroleum and Natural Gas Regulatory Board (PNGRB) to set up the gas network for Thane, Maharashtra. It will cover the areas of Talsari, Dahanu, Palghar, Vikramgarh, Javhar, Mokhda, Vada, Vasai, Bhivandi, Shahpur, Kalyan, Marbad and Amba Math where about 10 lakh households will be covered with an approximate investment of Rs. 1,207 crore. Also, the gas will be used for small and medium industrial units as well as for auto CNG.
It has been granted 300 months of infrastructure exclusivity i.e. valid up to April 01, 2040 and 60 months of marketing exclusivity valid up to April 01, 2020 for the CGD network. Further, the Authorised area for laying, building, operating or expanding the proposed CGD Network shall cover a geographical area of 8,683 sq. km.