GAIL Surges 8% On Proposal Of Unified Tariff For All Pipelines

GAIL India stock rallied 8 percent intraday on Friday after the Petroleum and Natural Gas Regulatory Board put up a consultation document on unified pipeline tariff proposing a 60 percent hike in tariff by the company.

"We have proposed PNGRB for unified tariff for all pipelines. This is a positive development for equitable growth," Gajendra Sing, Director Marketing of GAIL said in an interview to CNBC-TV18.

He further said the company was looking at reasonable returns on pipeline and make further investments in the pipelines but he did expect tariffs to be very high.

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