Sensex Ends 110 Points Lower; Smallcap & Midcap Stocks Outperform

PNGRB has now notified a two-zone tariff structure - Zone-1 will be 300-km from the source of gas (gas field or LNG import terminal) and Zone-II will be beyond that.

PNGRB said the tariff for the first tariff zone will be 40% of the tariff for the second zone.

Stocks such as Gujarat Gas, Indraprastha Gas, Mahanagar Gas, Adani Gas, and Gujarat State Petronet surged in the range of 9-20% on the back of the above news.

Moving on to news from the IT sector, Vakrangee was among the top buzzing stocks today.

Shares of the company moved higher by 14% intraday today, surging 28% in the past two trading days after its board approved the withdrew amalgamation scheme for two wholly-owned subsidiaries due to "substantial changes in the business environment".

In March 2020, the company had filed a Scheme Application with National Company Law Tribunal, Mumbai (NCLT) which is presently pending with NCLT to seek appropriate directions.

"Since then, there have been substantial changes in the business environment in the last few months and the management of the Company is of the opinion that, considering the present scenario, it would not be prudent to proceed with proposed amalgamation of Vakrangee Logistics Private Limited and Vakrangee Finserve Limited with Vakrangee Limited," Vakrangee said in a regulatory filing.

Vakrangee share price ended the day up by 10.4%.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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