India markets closed
  • BSE SENSEX

    48,347.59
    -530.95 (-1.09%)
     
  • Nifty 50

    14,238.90
    -133.00 (-0.93%)
     
  • Dow

    30,801.89
    -195.09 (-0.63%)
     
  • Nasdaq

    13,540.91
    -2.15 (-0.02%)
     
  • BTC-INR

    2,490,534.75
    +49,024.00 (+2.01%)
     
  • CMC Crypto 200

    687.24
    +10.35 (+1.53%)
     
  • Hang Seng

    30,159.01
    +711.16 (+2.41%)
     
  • Nikkei

    28,822.29
    +190.84 (+0.67%)
     
  • EUR/INR

    88.6402
    -0.1898 (-0.21%)
     
  • GBP/INR

    99.7452
    -0.1081 (-0.11%)
     
  • AED/INR

    19.8160
    -0.0080 (-0.04%)
     
  • INR/JPY

    1.4190
    -0.0003 (-0.02%)
     
  • SGD/INR

    54.9630
    +0.0160 (+0.03%)
     

Gujarat Gas gains after PNGRB transfers two GAs

·1-min read

The Petroleum and Natural Gas Regulatory Board (PNGRB) had accepted proposal for transfer of authorization of Amritsar District GA and Bhatinda District GA from Gujarat State Petronet (GSPL) to Gujarat Gas (GGL).

The company is required to submit revised financial closure, gas supply agreement and PBG (performance bank guarantee) to PNGRB to complete the process of transfer.

Accordingly, PNGRB has permitted the company to take over activities of laying, building, operating or expanding CGD (city gas distribution) network of Amritsar District GA and Bhatinda District GA, GGL said.

Gujarat Gas operates in the segment of natural gas business and is India's largest city gas distribution company. Its consolidated net profit surged 114.80% to Rs 250.46 crore on 39.8% jump in net sales to Rs 2,666.63 crore in Q4 March 2020 over Q4 March 2019.



Source: Capitalmarket.com