Shares of Gujarat State Fertlisers & Chemicals (GSFC) fell 2.61 per cent to Rs 149.30 while those of GMDC plunged 4.6 per cent to Rs 152.40. Gujarat State Petronet also fell 1.3 per cent to Rs 280.10.
Gujarat Industrial Power climbed 16.87 per cent to hit a high of Rs 88.95 on BSE. Shares of Gujarat State Fertlisers & Chemicals (GSFC) soared 10 per cent to hit their upper circuit limit at Rs 140.45 on BSE.
Gujarat-based PSU companies gained after the Gujarat government announced a new capital restructuring plan that potentially increases dividend payouts and bonus, said Siddhartha Khemka of Motilal Oswal Securities.