Indraprastha Gas Limited (IGL) is trading higher by 5% at Rs 253 on reports that the company has increased the selling price of Compressed Natural Gas (CNG) in Delhi by Rs 2.90 per kg and in neighbouring Noida, Greater Noida and Ghaziabad by Rs 3.30 from Saturday.
"IGL is constrained to announce increase in the price of CNG since the input cost of entire pool of natural gas has risen substantially since the last price revision due to appreciation of dollar vis-à-vis rupee up to 14% and the increased dependence on imported LNG," the company said in a press release.
The stock opened at Rs 255 on the Bombay Stock Exchange. A combined 667,922 shares have changed hands in the opening deals.