Proposal to shift the existing taxi aggregators to CNG, if implemented, will boost volume
Thus far in October, the stock outperformed the market by surging 22% as compared to 0.43% rise in Sensex.
Company expects the Raigad project to see a demand of about 0.5 million cubic metres per year of gas
The development comes after the Maharashtra government hiked VAT by 1 per cent to 13.5 per cent
MGL supplies CNG to 4 lakh vehicles, including public transport and BEST buses and piped gas to 8 lakh households in Mumbai
The stock up 1.5% to Rs 586 on the BSE, was trading at a 39% premium against issue price of Rs 421 per share.
The stock hit a high of Rs 549 within minutes of listing, and edged lower in intraday trade
The stock listed at Rs 540, a 28% premium against issue price of Rs 421 per share, on the National Stock Exchange.
They cite attractive valuations compared to peers and growth opportunities in the gas distribution space
The IPO has so far received 68 million bids as against 17.3 million on offer
The 17.1 million share IPO garnered bids for 18.8 million shares, or 1.1 times the shares on offer
Company aims to raise around Rs 1040 crore; price band fixed by the gas distributor is Rs 380-421 per share
Company's Rs 1,040-cr IPO opens for subscription on June 21
The price band for the IPO is Rs 380-421 per share
The gas distributor firm has fixed the price band of Rs 380-421 for its initial public offer
Govt thrust on environment-friendly fuels and expansion in other cities are key positives for Mahanagar Gas and IGL
The counter of GAIL, the country's largest state-owned natural gas processing and distribution company, is likely to see good action in the coming weeks