IGL, Mahanagar Gas, Gujarat Gas stocks fall up to 40% in three months. What lies ahead for these CGD Stocks?
1 month ago

IGL, Mahanagar Gas, Gujarat Gas stocks fall up to 40% in three months. What lies ahead for these CGD Stocks?

Live Mint  

City Gas Distribution stocks—including Indraprastha Gas, Mahanagar Gas, and Gujarat Gas—have dropped between 23% and 43% over the past three months due to several challenges. “So, we cut the target prices of Indraprastha Gas, Mahanagar Gas, and Gujarat Gas by 30- 42% and downgrade Indraprastha Gas to Sell, Mahanagar Gas to Reduce and Gujarat Gas to Reduce,” the brokerage said. CNG cost Going forward, according to the gas pricing policy for domestic gas, CGDs will need to pay approximately a 40% premium over the APM gas prices, assuming crude oil prices are at USD 75 per barrel, for gas sourced from new wells operated by ONGC. Third-party access Since the marketing exclusivity has expired, the Petroleum and Natural Gas Regulatory Board recently invited several firms, including Indraprastha Gas, Mahanagar Gas, and Gujarat Gas, to share their views on declaring their compressed natural gas networks as common carriers.

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History of this topic

Indraprastha Gas share price rises 4%: To consider bonus shares issue on 10 Dec
2 weeks, 4 days ago

Indraprastha Gas share price rises 4%: To consider bonus shares issue on 10 Dec

Live Mint  

Stock Market Today: Indraprastha Gas share price gained up to 4% in the morning trades on Thursday : The board meeting of company is scheduled for 10 December to consider bonus share issuance The Indraprastha Gas share price opened at ₹374.80 on the BSE on Thursday, more than 4% higher than the previous closing price of ₹360.30 on Wednesday. The …

Indraprastha Gas and Mahanagar Gas face perils of policy controls
1 month ago

Indraprastha Gas and Mahanagar Gas face perils of policy controls

Live Mint  

City gas distributors Indraprastha Gas Ltd and Mahanagar Gas Ltd have suffered two consecutive blows in a month. The government has reduced the supply of cheaper natural gas by 20% for IGL and 18% for MGL,effective 16November. In the September quarter, while IGL’s gas sourcing consisted of 50% APM gas, for MGL it was 71% given theformer's larger sales volume. …

MGL, IGL & other CGD stocks plunge up to 15% after cut in priority gas allocation
1 month ago

MGL, IGL & other CGD stocks plunge up to 15% after cut in priority gas allocation

Live Mint  

Shares of Mahanagar Gas, Indraprastha Gas, and Gujarat Gas among other city gas distribution companies cracked up to 15% on Monday after the government cut the Administered Price Mechanism allocation to CGD players by 20% for the second straight month. It estimates an adverse gross margin impact of ₹2–9 per scm based on the expected increase in gas costs depending …

ONGC, BPCL rise up to 4%, Nifty oil & Gas index up to 1.5%: 4 key risks and opportunities in the sector
8 months, 1 week ago

ONGC, BPCL rise up to 4%, Nifty oil & Gas index up to 1.5%: 4 key risks and opportunities in the sector

Live Mint  

Oil and Natural Gas Corporation adding to its gains on Monday rose up to 4% and was amongst largest Nifty-50 gainers accompanies by Bharat Petroleum Corporation stock. Hindustan Petroleum Corporation, Bharat Petroleum Corporation, Indian Oil Corporation share prices gained up to 2% while GAIL India ltd share price also saw similar gains The analysts however remain cautious on certain pockets …

GAIL slashes prices of CNG across 20 cities
9 months, 2 weeks ago

GAIL slashes prices of CNG across 20 cities

Hindustan Times  

​GAIL India on Saturdayannouncedslashing of compressed natural gas prices by ₹2.50 a kg in 20 cities, including Bengaluru, Patna, Ranchi and the Taj Trapezium Zone, brightening prospects of petrol and diesel rates cut as state-run energy firms are reducing retail prices of fuels ahead of the 2024 general elections. GAIL’s decision coincides with the move of three major state-run oil …

CNG prices reduced by ₹2.50 in Delhi-NCR. Check new rates
9 months, 2 weeks ago

CNG prices reduced by ₹2.50 in Delhi-NCR. Check new rates

Hindustan Times  

CNG prices in Delhi-NCR: Indraprastha Gas Limited, the sole supplier of CNG in Delhi, on Wednesday announced a reduction in the selling prices of the gas, ANI reported. According to the company, the retail consumer price of CNG is being reduced by ₹2.50 per kg across all geographical areas of IGL. Earlier on Tuesday, State-run Mahanagar Gas had also reduced …

Mahanagar Gas shares fall most in four years: 2 major reasons behind decline. Will it continue?
9 months, 2 weeks ago

Mahanagar Gas shares fall most in four years: 2 major reasons behind decline. Will it continue?

Hindustan Times  

Mahanagar Gas share price: Shares of Mahanagar Gas fell as much as 10% today. At present, Mahanagar Gas shares are trading 11% lower at ₹1,395 which marks the biggest single-day drop seen in the stock since March 2020. Mahanagar Gas share price: Mahanagar Gas cut prices of Compressed Natural Gas by ₹ 2.5 per kilogram in Mumbai. Mahanagar Gas shares …

Indraprastha Gas Plummets 10% As Jeffries Downgrades Stock On Delhi EV Policy
1 year, 2 months ago

Indraprastha Gas Plummets 10% As Jeffries Downgrades Stock On Delhi EV Policy

News 18  

IGL Share Price: Shares of the gas distribution company Indraprastha Gas extended their losing streak for the second straight session on Friday after global brokerage double-downgraded the stock to hold from the earlier buy rating. Jefferies has cut its target price to Rs 465 a share, down 3 per cent, from its earlier target price of Rs 565 a share …

Gujarat Gas top pick in City Gas Distribution space: Motilal Oswal
1 year, 3 months ago

Gujarat Gas top pick in City Gas Distribution space: Motilal Oswal

Live Mint  

Domestic brokerage, Motilal Oswal Financial Services, quickly skimmed the annual reports of Gujarat Gas Ltd, Mahanagar Gas Ltd, and Indraprastha Gas Ltd, the three City Gas Distribution s.Gujarat Gas continues to be Motilal Oswal's top choice among the three CGDS, said the brokerage in its latest report on Oil & Gas sector. According to the brokerage, Indraprastha Gas and Mahanagar …

New pricing to benefit gas distributors
1 year, 8 months ago

New pricing to benefit gas distributors

Live Mint  

Gas distribution companies have emerged as major beneficiaries of the implementation of the Kirit Parikh Committee recommendations which has seen domestic gas prices revised down to $6.5 per mmBtu from $8.57 per mmBtu earlier. The key recommendations of Kirit Parikh Committee on natural gas pricing accepted included imposing a floor price of $4/mmBtu and ceiling on prices of $6.5/mmBtu, to …

CNG, PNG prices drop, which oil and gas stocks to buy?
1 year, 8 months ago

CNG, PNG prices drop, which oil and gas stocks to buy?

Live Mint  

After the government passed on several key recommendations of Kirit Parikh's committee, major oil and gas companies have started to trim their natural gas such as CNG and PNG prices. In a report, research analysts at ICICI Direct said, "With the implementation of this pricing, APM gas prices would be subjected to a floor and ceiling price of $4/mmbtu and …

GAIL Gas cuts CNG, PNG prices after IGL, MGL; check revised prices here
1 year, 8 months ago

GAIL Gas cuts CNG, PNG prices after IGL, MGL; check revised prices here

Live Mint  

GAIL Gas Ltd, the city gas arm of the nation's largest gas firm GAIL Ltd, announced a reduction of up to ₹7 in the prices of CNG and piped cooking gas. GAIL Gas cut the price of the gas that households received through piped natural gas, or PNG, by ₹7 per standard cubic metre in Bengaluru and Dakshin Kannada and …

Mahanagar Gas Limited reduces CNG price by ₹8 per kilogram
1 year, 8 months ago

Mahanagar Gas Limited reduces CNG price by ₹8 per kilogram

Live Mint  

Mahanagar Gas Limited on 7 April decreased the price of compressed natural gas by ₹8 per kilogram to ₹79 per kilogram. Earlier in February, the city gas distributor reduced its CNG price by ₹2.5/kg, however prices are still around 80 per cent more than those in April last. The Cabinet revised the gas pricing formula on Thursday, and capped the …

IGL price hike in Delhi: CNG to cost ₹71.61/kg, piped cooking gas ₹45.86
2 years, 7 months ago

IGL price hike in Delhi: CNG to cost ₹71.61/kg, piped cooking gas ₹45.86

Hindustan Times  

Prices of CNG in the national capital on Thursday were hiked by ₹2.50 per kg and that of piped cooking gas by ₹4.25 per unit to record levels on the back of surge in raw material cost. CNG in the national capital territory of Delhi now costs ₹71.61 per kg, up from ₹69.11 per kg, according to the information posted …

Crude prices ease over hopes of emergency stock release
2 years, 8 months ago

Crude prices ease over hopes of emergency stock release

Live Mint  

Crude oil prices eased on Thursday amid high volatility as the International Energy Agency discussed a possible further release of more oil from its emergency inventory in a coordinated manner. In the last two days, retail prices of petrol and diesel increased by ₹1.60 cumulatively as daily price revision resumed on 22 March after a around four months. with an …

After Petrol-Diesel Price Hike, Indraprastha Gas Raises PNG, CNG Rates. Check Latest Rates
2 years, 8 months ago

After Petrol-Diesel Price Hike, Indraprastha Gas Raises PNG, CNG Rates. Check Latest Rates

ABP News  

New Delhi: After hike in petrol and diesel prices, there is another blow for common man as Indraprastha Gas Ltd on Thursday raised the price of domestic piped natural gas and Compressed Natural Gas in Delhi, Uttar Pradesh, Gurugram and several other regions. Indraprastha Gas Limited has hiked the price of domestic piped natural gas in Delhi by Rs 1 …

IGL hikes CNG, PNG prices in THESE cities | Check revised rates
3 years, 2 months ago

IGL hikes CNG, PNG prices in THESE cities | Check revised rates

India TV News  

Indraprastha Gas Limited on Tuesday hiked both compressed natural gas and piped natural gas prices in several cities. The consumer price of PNG supplied to households in Delhi was increased by Rs 2.10 per cubic metre to Rs 33.01 per scm. The applicable price of domestic PNG to households in Noida, Greater Noida and Ghaziabad was turned to Rs 32.86 …

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