New Delhi, Dec. 2 -- A tariff setback and stubborn LNG prices have once again rattled Gail India investors.

Gail (India) Ltd's shares slipped 5% after the Petroleum and Natural Gas Regulatory Board (PNGRB) set an interim transmission tariff of Rs.65.7 per mmBtu (million British thermal units) - 12% higher than current charges but well below Gail's proposed Rs.78 per mmBtu.

The regulator has once again left out certain cost components to prevent steep hikes for customers, echoing the 2023 revision that also undershot the company's submission.

PNGRB resets tariffs every five years for the domestic gas transmission sector. The lower-than-expected revision has prompted brokerages to trim Gail's earnings forecasts by 3-7%. JM Financial Inst...