Shares of GAIL (India) were near 5-month high and led the gains on NSE.

Shares of India's biggest gas transporter jumped as much as 8.3 per cent to Rs 429, the top percentage gainer on the NSE index.

The stock hit its highest level since May 5 and posted its biggest intraday percentage gain since July 10.

Consultation paper released by India's natural gas regulator indicated that unified or pooled tariff for GAIL's integrated pipeline was about 78 per cent higher than the existing tariff of Rs 37.10.

"f implemented, tariff will apply to all of GAIL's pipelines, potentially leading to a 35 per cent rise in the company's FY19 earnings,'' analyst at local brokerage says.

Shares of GAIL (India) led the gains on S&P BSE Oil and Gas index, which was up 1.43 per cent. The stock has risen about 41 per cent in the last 12 months up to Thursday's close.