Oil & gas shares jump on softening crude oil price; Gujarat Gas flares 11%

The Oil Ministry’s demand to reduce or abolish cess on crude oil has propelled buying in shares of this sector.

A softening trend in the prices of crude oil coupled with strong expectation of a further fall in the crude oil prices have helped the oil, gas and exploration shares to post impressive surge on BSE today.

Also, the Oil Ministry’s demand to reduce or abolish cess on crude oil has propelled buying in shares of this sector.

Shares of GAIL are currently trading 8.85% higher at Rs. 344.95 on BSE. It opened higher at Rs. 321 as against its previous close of Rs. 316.90 and hit a high and a low of Rs. 351.40 and Rs. 321 respectively. So far, 4.20 lk shares have changed hands on BSE.

Gujarat Gas is currently trading 10.83% higher at Rs. 537.25 on BSE. It opened higher at Rs. 490.50 as against its previous close of Rs. 484.75 and hit a high and a low of Rs. 570.75 and Rs. 490.50 respectively. So far, 1.52 lk shares have changed hands on BSE.

Shares of Alphageo India are currently trading 6.36% higher at Rs. 585 on BSE. It opened higher at Rs. 554.25 as against its previous close of Rs. 550 and hit a high and a low of Rs. 591 and Rs. 553 respectively. So far, 7,710 shares have changed hands on BSE.

Petronet LNG is currently trading 6.11% higher at Rs. 218.70 on BSE. It opened higher at Rs. 208.25 as against its previous close of Rs. 206.10 and hit a high and a low of Rs. 224.60 and Rs. 208.25 respectively. So far, 3.74 lk shares have changed hands on BSE.

Shares of Indraprastha Gas are currently trading 4.06% higher at Rs. 483 on BSE. It opened higher at Rs. 471.75 as against its previous close of Rs. 464.15 and hit a high and a low of Rs. 496 and Rs. 471.75 respectively. So far, 62,000 shares have changed hands on BSE.

Indian Oil Corporation (IOC) is currently trading 1.41% higher at Rs. 412.80 on BSE. It opened lower at Rs. 406.40 as against its previous close of Rs. 407.05 and hit a high and a low of Rs. 414 and Rs. 404.75 respectively. So far, 40,000 shares have changed hands on BSE.

Shares of BPCL are currently trading 1.61% higher at Rs. 921.50 on BSE. It opened lower at Rs. 901.30 as against its previous close of Rs. 906.90 and hit a high and a low of Rs. 924.50 and Rs. 900.60 respectively. So far, 63,000 shares have changed hands on BSE.