Gas sector may come under GST purview in Modi 3.0, GAIL, MGL to be top beneficiaries: Citi
Notwithstanding a below par election outcome, Narendra Modi-led National Democratic Alliance (NDA) government could still be in a position to bring the gas sector under the purview of Goods and Services Tax (GST) tax, Citi Research said in a note. The US brokerage remains constructive on the gas sector and picks GAIL (India) and Mahanagar Gas Limited (MGL) as its top bets in the energy sector.
GAIL shares today jumped 8% to the day's high of Rs 210.85 while MGL gained 5% aiding Nifty Oil & Gas index's uptick. The 15-stocks index was among the top performing indices and was up 2.5% around 12:30 pm. All counters were trading in the green
