Oil and gas stocks were in focus on Friday after Prime Minister Narendra Modi said that the government is committed to bring natural gas Goods and Services Tax (GST). This will help to make the prices uniform and cheaper in the country. The government has also planned to spend over Rs 7.5 lakh crore in the country’s oil and gas infrastructure in the next five years. When GST was implemented in 2017, only five petro-products — petrol, diesel, crude oil, natural gas, and aviation turbine fuel (ATF) — were kept out of its purview.

Analysts at Emkay Global Financial Services noted that clarity relating to the GST rate, estimation of input tax credit (ITC) among gas players and B2B customers and whether the same will be retained or passed are among the key factors to consider.