Shares of gas distribution and transmission companies soared in Tuesday’s trade after US President Donald Trump said the war with Iran could end “very soon,” calming investor concerns about prolonged supply disruptions following the effective closure of the Strait of Hormuz.
Investor sentiment improved on expectations that de-escalation in the geopolitical conflict could stabilise global energy supply chains, which had been under pressure due to the strategic shipping route’s disruption.
Among the gainers, GAIL (India) rose 2 per cent to touch an intraday high of ₹152.50. Petronet LNG traded near the day’s high of ₹292.30, marking a rise of nearly 5 per cent from its previous close of ₹278.55.
Indraprastha Gas zoomed nearly 6 per cent to ₹163.74 on the National Stock Exchange compared with its previous close of₹154.76.
Other city gas distributors also witnessed buying interest. Gujarat Gas and Mahanagar Gas rose between 1 and 1.5 per cent, while Adani Total Gas gained 1.9 per cent during the session.
Several of these counters had , prompting value buying as sentiment improved across the energy pack.