Shares of Gujarat Gas Ltd surged to their 52-week high after the firm inked a memorandum of understanding (MoU) with Hindustan Petroleum Corporation Limited (HPCL). Gujarat Gas stock rose 1.46% to a high of Rs 589.65 against the previous close of Rs 581.15 on BSE.
Market cap of Gujarat Gas climbed to Rs 40,439 crore.
The stock of Gujarat Gas opened higher at Rs 589.65 today against the previous close of Rs 581.15. Total 0.27 lakh shares changed hands over the counter amounting to a turnover of Rs 1.55 crore.
Gujarat Gas stock has surged 21% this year and risen 23.84% in the last one year. Total 0.27 lakh shares of the firm changed hands amounting to a turnover of Rs 1.55 crore on BSE.
The stock has a beta of 0.4, indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of Gujarat Gas stock stands at 78.3, signaling it's trading in the overbought zone.
Gujarat Gas stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Under the MoU, (a) HPCL will provide Liquid Fuels at GGL outlets. 2. HPCL will provide Automotive Lubricants, Greases and Specialties at the GGL outlet. 3. Setting up of CNG Facility at HPCL COCO/COMCO Outlets. 4. GGL setting up of CNG Mother Facility at HPCL Outlets.
Also read: Stock recommendations by analyst for February 1, 2024: Exide, DCW and Trident
Also read: Top 5 stocks to watch on February 1: Paytm, Glenmark Pharma, Adani Enterprises and more
Also read: Avanti Feeds, Apex Frozen shares rally up to 9% as India looks to double seafood exports