Mahanagar Gas Limited (MGL) shares surged over 3% on October 7, 2025, after the company signed a strategic Memorandum of Understanding (MoU) with Oil India Limited (OIL), a Maharatna PSU with a strong presence across the oil and gas value chain. As of 9:24 AM, the shares were trading 2.70% higher at Rs 1,317.90.
The MoU, formalized on October 6, 2025, aims to explore opportunities in the LNG value chain and emerging clean energy segments. Senior executives from both companies, including OIL’s Executive Director (Business Development) and MGL’s Vice President (Business Development, BIS, Commercial & STU), were present during the signing, alongside OIL’s Director (Operations), Director (HR), and MGL’s Managing Director.
Under this collaboration, MGL and OIL will jointly assess the technical and commercial viability of LNG in heavy-duty transportation while exploring scalable clean energy projects. This partnership aligns with OIL’s expansion into hydrocarbon exploration and clean energy initiatives and MGL’s ongoing efforts to diversify its LNG and sustainable energy operations.
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