Petronet LNG shares advance over 4% on cut in custom duty

Finance Minister Arun Jaitley announced a cut in custom duty on LNG to 2.5 % from 5 % and it led to advancement in the shares of Petronet LNG as much 4.22 %. Around 12:45 pm, the scrip was trading 3.34 % up at Rs 386.45.

The shares of the company opened at Rs 376.95 and touched a high and low of Rs 389.75 and Rs 371.10 in trade. Benchmark BSE was trading almost flat at 27,655.11.

Petronet LNG Ltd is an oil and gas company formed by the government of India to import liquefied natural gas (LNG) and set up LNG terminals in the country.