Mumbai : Gujarat Gas Company’s shares climbed as much as 6% to close at at Rs 235.50 after it received board approval for merger with other state run firms involved in city gas distribution business. The scrip had surged over 14% intra-day. As per the filing, GSPC Distribution Networks Ltd, GSPC Gas Ltd, Gujarat Gas Financial Services Ltd and Gujarat Gas Trading Company Ltd would be merged with Gujarat Gas Company. Analysts said the merger would boost Gujarat Gas’ valuations in line with those of state-run Indraprastha Gas Ltd.

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