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GAIL shares slump over 6% on PNGRBs lower-than-expected transmission tariff revision

GAIL's share price dropped sharply on Friday after PNGRB announced a lower-than-expected tariff revision for its natural gas pipeline network. The regulator raised tariffs to Rs 77.98/MMBTU but deferred full cost recovery until 2028, limiting GAILs ability to offset rising capex and opex, raising concerns over medium-term margins and earnings visibility.