IGL surges 10% on reports of CNG price hike; MGL rises 8% in choppy market

Reports suggest IGL has announced a hike in prices of compressed natural gas (CNG) in the Delhi-NCR region

Shares of city gas distribution (CGD) companies, Indraprastha Gas (IGL) and Mahanagar Gas (MGL), rallied up to 10 per cent in the intra-day trade on Tuesday amid reports of IGL announcing a hike in prices of compressed natural gas (CNG) in the Delhi-NCR region. The prices have been hiked by 50 paise per kilo in Delhi while Re 1 per kilo in the NCR region, as per reports.

Shares of IGL soared 10 per cent to Rs 371, while MGL surged 8 per cent at Rs 770 on the BSE in intra-day trade. At 11:18 AM, these stocks were