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City Gas Distribution

Kolkata city gas distribution network expands with pipeline reach: Gail

GAIL (India) Ltd chairman and managing director Sandeep Kumar Gupta on Friday said significant progress in the Kolkata city gas distribution network has been achieved with pipelines now reaching the eastern metropolitan, paving the way for accelerated natural gas adoption in the city and adjoining districts in near future. The development comes after prolonged delays due to challenges in navigating fisheries-rich districts of Midnapore, critical for pipeline routing for the Jagdishpur-Haldia-Bokaro-Dhamra pipeline. "The pipeline has reached Kolkata, so city gas distribution will get accelerated. Earlier we had to transport it," Gupta told PTI on the sidelines of the Institute of Internal Auditors India 32nd AGM. Asked about a timeline, he said, "We stand by the minimum work programme under which all the city gas distribution entities have to work. The work programme is decided by the Petroleum and Natural Gas Regulatory Board. So, they will be working all in line with that work ...

Updated On: 07 Feb 2025 | 5:11 PM IST

Brokerages lower GAIL target on weak Q3; long-term positive outlook intact

On the bourses, GAIL share price rallied as much as 7.03 per cent to hit an intraday high of Rs 178.75 apiece

Updated On: 31 Jan 2025 | 2:41 PM IST

Mahanagar Gas share pops 6% as Morgan Stanley initiates with 'Overweight'

Mahanagar Gas shares surged following reports that Morgan Stanley, a New York-based brokerage firm, initiated coverage with an 'Overweight' rating

Updated On: 14 Jan 2025 | 11:42 AM IST

IGL, BPCL, Gail (India) shares rise 2% each on in-principle nod to MNGL IPO

MNGL IPO news: BPCL's Board has given an in-principle approval for MNGL listing

Updated On: 07 Jan 2025 | 10:12 AM IST

Lack of pricing power, competition to hit city gas distribution firms

Analysts are downgrading earnings projection and expect further cuts to APM allocations in the future

Updated On: 28 Nov 2024 | 10:59 PM IST

Margin pressure ahead as city gas distribution majors continue to struggle

Given the weak demand, and lower price arbitrage versus petrol/ diesel, and upcoming Assembly elections, price increases will be gradual, hitting margins across H2FY25

Updated On: 19 Oct 2024 | 12:14 AM IST

MGL, IGL stocks tank up to 14%; Why are CGD shares falling in trade today?

APM gas allocation cut by around 20% for CNG segment will have an adverse impact on the profitability of MGL and IGL

Updated On: 18 Oct 2024 | 11:26 AM IST

City gas distributors' MGL, IGL rally 6% on healthy volume growth hopes

According to reports, global brokerage UBS has recommended 'Buy' ratings on IGL and MGL with target prices of Rs 700 per share and Rs 2,400 per share, respectively

Updated On: 17 Sep 2024 | 11:44 AM IST

Amended PNGRB Act to give legal teeth to petroleum sector regulators

CGDs say they can't hand over access capacity to new entities without more details from govt

Updated On: 04 Sep 2024 | 11:30 PM IST

Gujarat Gas stock flies 14% on merger, demerger plan; brokerages upbeat

Brokerages see an upside of up to 23 per cent in Gujarat Gas stock as they believe that the restructuring of these Gujarat companies will simplify the existing layered structure.

Updated On: 02 Sep 2024 | 9:43 PM IST

IGL, MGL, Guj Gas likely to outperform OMCs; Charts show up to 17% upside

Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts.

Updated On: 15 Jul 2024 | 1:05 PM IST

City-gas distribution entities lag on minimum work programme: PNGRB

Authorised CGDs have provided half of their targeted PNG connections to households

Updated On: 17 Mar 2024 | 11:44 PM IST

Competition status quo to stay amid PNGRB notice: Industry experts

Petroleum and Natural Gas Regulatory Board (PNGRB) in a public notice said the infrastructure exclusivity granted to geographical areas in Mumbai and Greater Mumbai have expired

Updated On: 17 Mar 2024 | 11:41 PM IST

Attractive valuations of city gas distributors after recent price fall

Domestic gas consumption in CGD declined to 26.5 mmscmd in January

Updated On: 11 Mar 2024 | 11:32 PM IST

AG&P Pratham, Think Gas Distribution to begin $1.1 billion merger

The I-Squared Capital-backed city gas distribution companies received approval for the merger from the European Commission in February and aims to enhance efficiency and up market competitiveness

Updated On: 11 Mar 2024 | 10:29 AM IST

AG&P Pratham targets 53,000 new PNG connections in the next 2 months

To boost PNG adoption, AG&P Pratham has launched exclusive schemes and benefits for its new users under this drive, offering Free Gas for one month, Zero Security Deposit

Updated On: 28 Jan 2024 | 4:29 PM IST

CRISIL analysis: Oil, gas use to see 10-15% rise in FY24 amid sector growth

The trends indicate a positive trajectory across various segments of natural gas consumption

Updated On: 01 Jan 2024 | 12:11 AM IST

Gas firms seek price deregulation as city distribution targets fall behind

Regulator warns them of losing bank guarantees as investors show little interest in gas economy

Updated On: 12 Dec 2023 | 4:38 PM IST

City gas distributors under pressure; IGL, MGL stocks tank up to 10%

The Delhi government has submitted a policy on electric vehicle (EV) adoption by cab aggregators, delivery service providers and E-comm entities for final approval by the Lieutenant Governor

Updated On: 20 Oct 2023 | 10:41 PM IST

Govt launches 12th round of bidding for city gas distribution in NE states

Natural gas is used for cooking by households as piped natural gas (PNG), and as an auto fuel as compressed natural gas (CNG)

Updated On: 12 Oct 2023 | 11:34 PM IST