Ruling powers IGL shares by almost 9%

Shares of Indraprastha Gas Ltd ended almost 9 per cent higher as the Supreme Court on Wednesday dismissed the appeal of PNGRB filed against the Delhi High Court decision by which the regulator’s order of fixing the prices of CNG and PNG in Delhi and adjoining areas was quashed. After surging 16.47 per cent to Rs 486.65 in intra-day trade, shares of IGL finally ended with a gain of 8.98 per cent at Rs 455.30 on the BSE. On NSE, shares of the company soared 8.97 <g data-gr-id="16">per cent</g> to settle at Rs 455.30. The company’s market value rose by Rs 525.21 crore to Rs 6,374.21 crore. In terms of volume, 12.22 lakh shares of the company changed hands at the BSE during the day.