Gail, Oil India & 3 other stocks to benefit as PNGRB proposes changes to gas transmission tariff rules

India’s natural gas pipeline sector is experiencing significant growth, with the operational network expanding from 15,340 km in 2014 to nearly 25,000 km by early 2025. By 2030, natural gas demand is projected to rise by 60%, reaching approximately 103 billion cubic meters annually, driven by infrastructure development and policy support. 

The shares of gas and Petroleum stocks have seen significant movement after the Petroleum and Natural Gas Regulatory Board’s (PNGRB) proposed amendments to gas transmission tariff determination regulations are currently open for public consultation. An open house discussion is set to take place in mid-April 2025. 

As per Morgan Stanley regulatory changes in long-haul gas players will allow transporters and upstream producers to gain but returns for city gas players, the outlook also highlights that gas pipeline transmission companies shall benefit from four proposed tariff changes. Although end consumers could face higher costs due to higher costs from pipeline tariffs, consumers over distances would still see lower costs. 

Here are the stocks after PNGRB proposed amendments to gas transmission tariff determination regulations:

1. Gujarat State Petronet Ltd 

Gujarat State Petronet Limited is an India-based company, which is primarily engaged in the transmission of natural gas through pipelines on an open-access basis from supply points to demand centers and then distribution to end customers. With a market capitalization of Rs 16,672 crore, the shares were trading at Rs 296 per share, increasing around 3 percent as compared to the previous closing period. 

2. Petronet LNG Ltd 

Petronet LNG Limited (PLL) is engaged in the sale of re-gasified liquefied natural gas (RLNG). The Company primarily operates in the business of importing and processing of liquified natural gas (LNG). It operates through the Natural Gas Business. With a market capitalization of Rs 45,652 crore, the shares were trading at Rs 304 per share, increasing around 2 percent as compared to the previous closing period. 

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3. Gail (India) Ltd 

GAIL (India) Limited is an India-based natural gas processing and distribution company. The Company’s segments include Transmission Services, Natural Gas Marketing, Petrochemicals, LPG And Liquid Hydrocarbons and Other segment. Its Transmission Services segment includes natural gas and liquid petroleum gas (LPG).With a market capitalization of Rs 1.20 lakh crore, the shares were trading at Rs 183 per share, increasing around 5 percent as compared to the previous closing period. 

4. Oil India Ltd 

Oil India Limited is an India-based integrated exploration and production company in the upstream sector, which is engaged in providing crude oil and natural gas. The Company’s segments include Crude Oil, Natural Gas, LPG, Pipeline Transportation, Renewable Energy and Others. With a market capitalization of Rs 64,983 crore, the shares were trading at Rs 400 per share, increasing around 2 percent as compared to the previous closing period. 

5. Indraprastha Gas Limited 

Indraprastha Gas Limited’s (IGL) business consists of the sale of natural gas. The Company is focused on industrial and commercial business. The Company provides safe and uninterrupted gas supply through its extensive distribution network to transport, domestic, commercial, and industrial consumers. With a market capitalization of Rs 28,469 crore, the shares were trading at Rs 203 per share, increasing around 3 percent as compared to the previous closing period. 

Written by Abhishek Singh

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