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Nomura says Delhi EV policy structurally negative for IGL; prefers MGL
Nomura said that city gas distribution companies may now need to start to aggressively pursue inorganic opportunities to grow volumes, given the risk of pollution-led CNG mandates in large cities.
MGL rides PNG adoption wave, analysts see further upside
Mahanagar Gas shares have surged on government's push for piped natural gas adoption, aiming for a 20% customer base increase. This move is expected to significantly boost PNG consumption and accelerate volume growth. Despite a recent rally, the stock's valuation remains attractive, with analysts predicting future earnings growth and potential for a re-rating as margin pressures ease.
Mahanagar Gas Ltd up for fifth session
Mahanagar Gas Ltd is quoting at Rs 1210.3, up 0.12% on the day as on 12:44 IST on the NSE. The stock is down 13.08% in last one year as compared to a 2.73% spurt in NIFTY and a 14.16% spurt in the Nifty Energy.
Mahanagar Gas Ltd spurts 2.14%, gains for third straight session
Mahanagar Gas Ltd is quoting at Rs 1163.4, up 2.14% on the day as on 12:49 IST on the NSE. The stock is down 18.84% in last one year as compared to a 3.7% spurt in NIFTY and a 10.87% spurt in the Nifty Energy index.
CNG, PNG Gets Costlier In Mumbai As Prices Jump For Second Time In 15 Days: Check New Rates
It is the second upward revision in CNG prices by MGL in recent weeks.
Mumbai CNG gets Rs 2/kg costlier from Saturday; piped cooking gas rates also raised
Mahanagar Gas Ltd (MGL) has increased CNG prices by Rs 2 per kg and piped cooking gas by 50 paise per unit across the Mumbai Metropolitan Region. This hike, attributed to rising gas procurement costs, impacts millions of households and public transport users, intensifying demands for auto and taxi fare increases.
Mahanagar Gas Ltd up for five straight sessions
Mahanagar Gas Ltd is quoting at Rs 1106.5, up 0.3% on the day as on 12:44 IST on the NSE. The stock is down 16.5% in last one year as compared to a 3.64% gain in NIFTY and a 15.14% gain in the Nifty Energy.
Mahanagar Gas Ltd spurts 2.88%
Mahanagar Gas Ltd is quoting at Rs 1105.9, up 2.88% on the day as on 12:49 IST on the NSE. The stock is down 17.14% in last one year as compared to a 3.34% spurt in NIFTY and a 14.07% spurt in the Nifty Energy index.
City Gas Distribution stocks rally on CNG price hike; IGL jumps 5%, MGL 3%
Following the latest revision effective from 6 AM on May 26, the price of CNG in Delhi has increased to ₹83.09 per kg from ₹81.09 earlier
Mahanagar Gas Ends All Schemes, Subsidies For Commercial Customers Citing Global Headwinds
MGL expressed regret over the inconvenience caused to customers.
Mahanagar Gas halts all subsidies amid energy crisis
The announcement came days after MGL raised CNG prices by ₹2 per kg across the Mumbai Metropolitan Region, taking rates to ₹84 per kg from May 14.
Gas Stocks Dip: MGL, IGL Shares Fall Over 3% After CNG Price Hike In Delhi
Both MGL and IGL shares dropped over 3% trading at Rs 1030.1 and Rs 150.31 apiece respectively after CNG prices were increased.