Gas stocks surge up to 20%

Ahmedabad: Shares of Adani Total Gas surged 20 per cent to hit the upper circuit on Wednesday, extending gains even as India faces a deepening natural gas supply crunch. The sharp rally came after the company said domestic piped natural gas (PNG) and compressed natural gas (CNG) used for transport have received priority allocation under a recent order by the Indian Government.

The stock also witnessed heavy trading activity during the session. Average volumes at the counter jumped more than 20 times, with a combined 16.44 million shares changing hands on the National Stock Exchange of India and the BSE.