Gujarat Gas Share Price, 8 Feb 2021: Stock market shares of Gujarat Gas Ltd gained significantly in the opening trade on Monday as volumes of the city gas regulator surged after Motilal Oswal gave a buy rating to Gujarat Gas with a target price of Rs 490. The current share price of Gujarat Gas Ltd is Rs 427.85.
Gujarat Gas reported a 23 per cent volume growth during the quarter driven by 29 per cent hike in industrial volumes. As a result, the net profit nearly doubled to Rs 392.1 crore against the projected growth of Rs 291.9 crore.
Notably, Gujarat Gas shares gained nearly 14.2 per cent in early trade to Rs 434 apiece, which is also a lifetime high.
“As spot LNG prices moderate, Gujarat Gas expects overall volumes to increase further to over 12 mmscmd by the end of March,” financial services group Nomura noted.