Page 2 - Mahanagar Gas

New gas price policy positive for city gas distributors, oil producers

Market analysts are somewhat divided on the CGD companies and on OIL and ONGC

Oil & Gas shares in focus: MGL hits 52-week high; ONGC, IGL jump up to 3%

The Government of India has accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the APM fields.

Stocks to watch: ONGC, IGL, MGL, RIL, L&T, Titan, Adani Group, Delta Corp

Stocks to Watch: Shares of city gas distributors are likely to be in focus today as they react to government's nod for new pricing regime.

MGL cuts CNG price by Rs 8, PNG by Rs 5 in Mumbai after govt revises price

Gail India subsidiary Mahanagar Gas (MGL) on Friday announced a steep reduction in the retail price of compressed natural gas (CNG) by Rs 8/kg and domestic PNG (piped natural gas) by Rs 5/SCM across its licenced area. The move comes on the heels of the Centre revising the pricing methodology of domestically-produced natural gas on Thursday as proposed by the Kirit Parikh committee and following it with the new price announcement earlier in the day. In February, the city gas distributor reduced its CNG price by Rs 2.5/kg. but prices are still around 80 per cent more than those in April last. MGL is pleased to pass the benefit of the source price reduction in domestic gas cost onto its domestic PNG and CNG consumers. Accordingly, the price of CNG is reduced by Rs 8/kg and domestic PNG is down by Rs 5/SCM in and around Mumbai, a late evening statement from the city gas distributor said. The revised retail price of CNG will be Rs 79/kg and that of domestic PNG Rs 49/SCM effective from

City gas distribution shares trade weak: MGL, IGL fall up to 6%

The government kept domestic gas prices unchanged at $8.6/mmBtu on a provisional basis from April 2023 to September 2023

Manappuram, MGL: Select small-cap stocks are poised for bigger upside

Selective small-cap stocks may rally up to 22 per cent in coming months, show technical charts

Bias for Nifty likely to remain bearish below 17,210: HDFC Securities

Among individual stocks, the technical & derivative analyst from HDFC Securities recommends to Buy Mahanagar Gas and Dr.Reddy's Labs.

IDFC, MGL, Radico: 5 smallcaps to bet on amid current market volatility

Shares of IDFC, MGL, Radico Khaitan, KEI Industries and Carborundum Universal may rise up to 26 per cent, indicate technical charts

Mahanagar Gas' Unison Enviro acquisition lights up its growth prospects

Tailwinds for the industry in the form of decline in gas prices are also near-term positive

Mahanagar Gas surges 7% to hit 52-week high on acquisition of Unison Enviro

This acquisition will enable MGL to expand to newer geographical areas in Maharashtra (Ratnagiri, Latur & Osmanabad) and Karnataka (Chitradurga & Davanagere), thereby, providing new avenues.

Stocks to Watch: Power Grid, HDFC, Mahanagar Gas, Naukri, IEX, Zydus Life

Stocks to Watch: Mahanagar Gas has entered into a pact to acquire Unison Enviro, a subsidiary of Ashoka Buildcon, for Rs 531 crore

MGL slashes CNG price by Rs 2.50 per kg; leaves PNG prices unchanged

After nearly half a dozen times of hikes, the city gas utility Mahanagar Gas on Tuesday announced a reduction of Rs 2.50 per kilogram to Rs 87 a kg in the price of compressed natural gas (CNG), effective from Wednesday. Mahanagar Gas Ltd (MGL), however, left the price of cooking gas PNG unchanged. Since April 6, the price of CNG had gone up by Rs 29.50 per kilogram and that of piped natural gas (PNG) for residential use by Rs 18.50 at Rs 54. CNG price on November 4, 2022 had peaked at Rs 89.50 per kilogram and that of PNG at Rs 54 a kg. The state-owned company said the marginal cut in prices is in anticipation of the increased allocation of domestically-produced natural gas from high pressure-high temperature areas to distribution entities by the oil ministry, which lowers its input gas cost. After this reduction, the retail price of the fuel will come down to Rs 87 per kg in and around Mumbai, MGL said in a statement. This is the first price reduction since the second week of Ap

Proposed gas price revision to bring short-term relief to CGDs: Analysts

The proposed domestic gas pricing formula by Kirit Parikh panel will likely provide headroom to CGDs to reduce prices and improve margins, but this may hurt producers like ONGC, Oil India, experts say

Benchmarks extend record breaking run; Nifty tops 18,800; IT, metals shine

CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.

IGL, MGL gain up to 4% post Kirit Parikh panel gas pricing recommendations

The S&P BSE Oil & Gas index hit a 52-week high of 20,653.57 in intra-day trade on Wednesday

Sensex up 1,277 pts, ends above 58K; Nifty tops 17,250; banks, metals lead

CLOSING BELL: IndusInd Bank, Bajaj Finance, TCS, HDFC, Bajaj Finserv, Tata Steel, HDFC Bank, Wipro, L&T, Axis Bank, ITC, SBI, and Infosys were the top Sensex gainers

ONGC, Oil India to gain most from gas price hike; IGL worst hit: Analysts

Analysts at Antique stock Broking said every $1/mmbtu rise in gas prices is expected to lift ONGC, and Oil India's standalone Ebitda by 4 per cent, and 7 per cent, respectively

ONGC, Oil India gain up to 6% as govt increases gas prices; MGL falls 4%

The government has hiked prices of domestically produced natural gas for the October 2022-March 2023 period

CGD firms: Mahanagar Gas, IGL, Adani Total may add another 16%, charts show

Shares of gas distribution companies have being in focus on expectations of rise in demand, coupled with a favourable outcome from the Kirit Parikh report.

City gas distribution stocks in focus: IGL, MGL, Gujarat Gas up 4%

Analysts expects overall gas demand from the CNG and DPNG sectors to grow at 15.7 per cent CAGR over FY22-27 supported by aggressive expansion in infrastructure.