Gas stocks tanked today, after an order from the Petroleum and Natural Gas Regulatory Board (PNGRB) asking companies to cut rates for CNG & PNG to Delhi consumers. Almost all of the gas stocks led by Indraprastha Gas lost ground. The other losers in the gas space included GAIL, GSPL and Petronet.
Among the shares that gained ground today were Reliance Communications which gained on reports that it plans to list its subsidiary in Singapore. Tata Powers, Cairn India and Tata Motors were the other stocks that gained in trade today.
The week has some important data points including the industrial output and results of Infosys Technologies which is to be declared on Friday.