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GAIL Shares Drop as Tariff Hike Comes in Lower Than Anticipated and Timeline Gets Delayed
GAIL shares fell over 6% as PNGRB approved a smaller and delayed tariff hike, prompting analysts to flag weaker near-term earnings support and a postponed full review.
GAIL traded sharply lower today, falling more than 6% after the Petroleum and Natural Gas Regulatory Board approved a modest tariff hike to ₹65.69 per mmBtu far below the company’s requested ₹78. The revision will take effect from January 1, 2026, delaying expected earnings support by a full year. Analysts from UBS and Citi noted the increase covers only limited parameters, with a broader, more meaningful review now postponed to April 2028.