Adani Total Gas jumps 15%; Gujarat Gas up 11%; Why did shares of gas companies rocket amid Iran war? (Image/AI
Today, on the third trading day of the week, a tremendous return has been seen in the gas sector shares in the Indian stock market. Amidst the ongoing war in the Middle East and supply concerns, stocks like Adani Total Gas and Gujarat Gas have created a ruckus in the stock market. While shares of Adani Total Gas rose by more than 15%, Gujarat Gas also rose by more than 11%.
By 11:48 am, shares of Adani Total Gas were seen trading at the level of 554.75 with a rise of +16.95%. Whereas Gujarat Gas was seen at the level of 403.55 with a rise of +7.61%.
Let us tell you that this stir among investors has come at a time when on one hand the war is deepening and on the other hand a statement by US President Donald Trump has raised the hopes of the market.
Read full article
The biggest rise was seen in these shares
As soon as the market opened on Wednesday, there was a buying spree in the shares of gas companies:
– Adani Total Gas: Increase of more than 15%.
– Gujarat Gas: Rise of more than 11%.
– GAIL, IGL and MGL: These shares also witnessed a rise of more than 2%.
– Petronet LNG: Here also investors invested a lot of money.
Trump’s statement: Is the war going to end?
The biggest reason for this rise in the market is the statement of US President Donald Trump, in which he has indicated that the war will end soon. Trump said that the campaign against Iran is almost complete and he is considering lifting sanctions from some countries to stabilize the oil market. He expressed confidence that the route to the ‘Strait of Hormuz’ will be completely opened soon.
Gas prices increased in India
Fuel prices have increased in India due to supply issues:
– Domestic gas: Increase of ₹60 per cylinder.
– Commercial gas: Increase of ₹ 114.5 per cylinder.
– In Europe, natural gas prices increased by 40% last week, because Qatar stopped production at its main plant.
Government’s ‘mission mode’: ESMA implemented
In view of the shortage and rising prices of gas, the Indian government has taken strict steps:
– The government has issued a new order and put the production of LPG, PNG and CNG on first priority.
– The government has implemented the Essential Commodities Act so that there is no interruption in the supply of domestic LPG and no one can hoard it. Refineries have been ordered to devote all their attention and resources to increasing LPG production.
related news
-
markets
Raajmarg Infra InvIT IPO: IPO worth Rs 6000 crore opened, investment opportunity till March 13, understand the whole thing before investing money.
-
LIVE markets
Stock Market LIVE Updates: Sharp selling continues in the stock market, Sensex falls by 900 points, Nifty at 24,000; Auto, banking, IT stocks slipped
-
markets
Iran Israel War Gas Prices: Gas crisis deepens in the country! Benefits to these companies including RIL, IOC – What should investors keep an eye on?
-
markets
These stocks including Shakti Pumps saw a rise of up to 19%, Modi government has given big approval in the cabinet
-
markets
Multibagger Stock: Maharatna company’s share became multibagger for investors, made 1 crore from Rs 1 lakh
end of article
