Astronger-than-expected March quarter performance helped Gujarat Gas Ltd shares gain over 5% on Wednesday. Firm industrial gas demand from the Morbi cluster in Gujarat and rising compressed natural gas (CNG) volumes helped its sales volumes. The average sales volume for the quarter rose 22 % year-on-year to 12.13 mmscmd (million metric standard cubic metres per day). Industrial and CNG volumes grew 24% and 16% year-on-year, respectively. Once the long-term gas sourcing for Gujarat Gas grows to 6 mmscmd (from 4.2 mmscmd), it will help improve blended gas costs, too.

Source: Mint June 02, 2021 17:29 UTC