Gujarat Gas share price rose 3 percent in the morning trade to Rs 631.60 on December 21 after foreign research firm Jefferies maintained a “buy” rating and kept the target price at Rs 830 a share

The recent checks of Gujarat Gas’ Morbi channel suggest volumes at 6.50-7/5.70 million metric standard cubic meters per day (mmscmd) in November/ December, while volumes have been range-bound to mitigate the exposure to high spot LNG prices, said Jefferies.

The underlying demand seems to be robust at 8-8.5 mmscmd, while the medium-term volume outlook remains intact, it added.

At 10.38 am, Gujarat Gas was quoting at Rs 631, up Rs 20, or 3.27 percent, on the BSE.

The share touched a 52-week high of Rs 786.65 on August 4, 2021 and a 52-week low of Rs 340.60 on December 21, 2020. It is trading 19.79 percent below its 52-week high and 85.26 percent above its 52-week low.