GAIL shares gained as much as 1.87% to hit the day's high of ₹157.60 on Thursday, March 5, snapping its four-day losing streak despite confirming complete LNG supply disruption from Qatar. The Maharatna PSU stock had lost 9% in the last four days of losses before the recovery. GAIL confirmed on Thursday that LNG supply from QatarEnergy has been reduced to zero from March 4, 2026, marking a complete halt in gas supplies from the Middle East. GAIL informed stock exchanges that its long-term supplier Petronet LNG issued a force majeure notice on March 3 under its Gas Sale and Purchase Agreement due to escalating tensions in the Middle East that have affected the Strait of Hormuz and shut down Qatar's Ras Laffan facility.
GAIL and IOC have already reduced gas supplies to industrial customers, as reported by Reuters on Tuesday. The temporary gas supply disruption is due to the crisis in the Middle East, with the company continuing operations with an alternate gas supply from GAIL (India) Ltd. There is no material impact on business operations expected at the moment, according to Cera Sanitaryware. Shares of GAIL are off the highs of the day, currently trading 1.87% higher, while those of Cera Sanitaryware are looking to recover from the lows of the day, trading with losses of 0.4%. Meanwhile, Petronet LNG shares were up 3% after a 10% fall on Wednesday.
India imported 27 million metric tons of LNG in 2024/25, about half of its overall gas consumption, according to government data cited by Reuters. The bulk of the LNG comes from Qatar, making the current supply disruption particularly significant. QatarEnergy LNG (QatarGas) has announced that it has stopped LNG output at its main facility after military attacks, with this facility handling 82 mmtpa of LNG, or nearly 25% of global LNG supply. GAIL clarified that LNG supplies to GAIL from other sources and suppliers are currently unaffected, providing some relief to the company's overall supply chain. GAIL added that the potential impact of the ongoing force majeure cannot be quantified at this stage, as the company is assessing the situation with regards to any supply curtailment that may need to be imposed on its downstream customers.
GAIL shares have slumped 8.65% on a year-to-date basis, while they remain in the red in the last one year, shedding 1.3%. On a longer time frame of three and five years, the Maharatna PSU stock has delivered 49% and 60% gains, respectively. The stock had dropped nearly 4.5% on March 4, 2026, to close at ₹3,882.60, but climbed to an intraday high of ₹3,971 in Thursday's session. As of 10:36 am, the stock was trading at ₹3,960.20, up a little over 2% from the previous close.
