Budget 2017: LNG Import Duty cut
Taking a major policy change initiative, on Wednesday during his Budget speech, Union Finance Minister Arun Jaitley announced LNG import duty cut to ensure a major boost to the sector.
The move holds importance as it is a huge positive for gas utility companies.
The government wants to encourage consumption of LNG in various sectors in its attempts to increase gas consumption in the total energy mix considering low prices of competing liquid fuels.
Buzzing stocks:
Petronet LNG - Rs 384.10 (up 2.75 %)
Mahanagar Gas - Rs 872 (up 2 %)
Indraprastha Gas - Rs 961.10 (up 2.30 %)
Gail India - Rs 481 (up 2.75 %)
Gujarat State Petronet - Rs 156.70 (up 3 %)