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.