State run oil and gas PSU Gujarat State Petroleum Corporation (GSPC) today hiked the price of compressed natural gas (CNG) by Rs 3.25 per kg, impacting industry and households in the state.
"The hike of Rs 3.25 per kg in CNG prices comes into effect from today. CNG shall now be available at Rs 40.25 per kg at our 110 gas stations across Gujarat," a GSPC official told PTI.
Earlier in May, the state PSU had raised prices of CNG from Rs 34.45 per kg to Rs 37 per kg, citing non-allocation of gas by the Centre from KG-D6 reserves as the reason for hike.
In the past one year, CNG prices in Gujarat have risen by over 35%, industry sources said.
Another city gas distributor (CGD), Adani Gas, that has operations in Ahmedabad and Vadodara, has also raised the prices of natural gas.
"Adani gas has hiked the price of CNG by Rs 2.50 per kg taking the price of natural to Rs 40.50 per kg. The hike comes into effect from today," a top company official said.
The company operates with a network of 54 CNG stations, 47 in Ahmedabad and seven in Vadodara, he said.
GSPC is amongst the seven city gas distributors along with Gujarat Gas Company, Adani Gas Limited, Charotar Gas Sahkari Mandli, Sabarmati Gas, Vadodara Municipal Corporation, HPCL (has CNG stations only), operating in Gujarat.
Guj State Petro stock price
On November 27, 2015, Gujarat State Petronet closed at Rs 133.55, up Rs 3.20, or 2.45 percent. The 52-week high of the share was Rs 141.30 and the 52-week low was Rs 101.85.
The company's trailing 12-month (TTM) EPS was at Rs 6.70 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 19.93. The latest book value of the company is Rs 64.33 per share. At current value, the price-to-book value of the company is 2.08.
READ MORE ON Gujarat State Petroleum Corporation , compressed natural gas, Adani Gas, GSPC, HPCL, Sabarmati Gas, Charotar Gas Sahkari Mandli, Adani Gas Limited, Vadodara Municipal Corporation
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