IGL | Business Upturn

Top stocks to watch today, December 22: Infosys, Tata Steel, IGL, Bank of Baroda, Fortis Healthcare, Crompton Greaves and more

Aman Shukla — Mon, 22 Dec 2025 02:04:50 +0000

Domestic equity markets are expected to open on a firmer note after the previous session’s volatility. Benchmark indices Sensex and Nifty 50 are likely to begin trade higher, tracking improved sentiment across global cues and stock-specific developments.

Several listed companies are in focus today following corporate announcements, regulatory updates, operational milestones, and financial disclosures.

Stocks to Watch Today – December 22

Crompton Greaves received a 20-year patent for an energy-efficient cooling invention integrating ceiling fans and air conditioners.
Indraprastha Gas (IGL) entered a joint venture with Hindustan Waste Treatment for a compressed biogas plant.
Jupiter Wagons promoter Tatravagonka acquired 28.72 lakh shares for Rs 134.99 crore at Rs 470 per share.
PVR Inox opened a two-screen multiplex in Leh, Ladakh.
KEC International received relief as the High Court stayed PGCIL’s order excluding the company from tenders for nine months.
Fortis Healthcare arm IHL signed definitive agreements to acquire TMI Healthcare and hospital assets.
Emmvee Photovoltaic Power commenced operations of a 2.5 GW solar module line in Bengaluru, raising total capacity to 10.3 GW.
Orissa Minerals Development reported net profit of Rs 3.1 crore versus Rs 0.8 crore YoY; revenue rose to Rs 25.1 crore.
NLC India announced the start of mining operations at the Pachwara South Open Cast Project.
Ramco Systems US arm signed an agreement with Powerhouse Engines to deploy next-gen aviation software.
RITES and the Government of Botswana signed an MoU to modernise railway and transport infrastructure.
Dish TV India won relief after the Bombay High Court dismissed a GST department appeal in a Cenvat credit case.
Univastu India approved an MoU with Urban Systems AB, Sweden.
East India Drums secured a contract from Munitions India Limited for supplying 200-litre steel barrels.
Fabtech Technologies Cleanrooms received an order worth Rs 330 million.
Krishna Institute of Medical Sciences acquired an additional 6.94% stake in Sarvejana Healthcare.
Vikram Solar saw India Ratings upgrade its long-term bank facilities rating to ‘IND A+’.
SEAMEC awarded a USD 3.25 million diving services contract to Adsun Offshore; arbitration proceedings with Maria Offshore and Jumbo Offshore closed.
Infosys reached a settlement in principle related to McCamish Systems lawsuits involving a USD 17.5 million payment; clarified no specific trigger behind ADR surge.
Great Eastern Shipping contracted to buy a second-hand VLGC built in South Korea in 2015.
Craftsman Automation subsidiary DR Axion India to acquire Suprash Developers and Srikara Technologies for Rs 145.8 crore.
Medi Assist Health Services saw HDFC Mutual Fund purchase 3.81 lakh shares at Rs 433 each.
Railway-related stocks in focus after announcement of marginal fare hikes for long-distance travel beyond 215 km from December 26.
Soma Textiles & Industries secured two construction orders from its holding company Roadway Solutions India Infra.
Hinduja Global Solutions received interim relief from the Bombay High Court in the NXTDigital demerger case.
Titagarh Rail Systems rolled out its first driverless metro trainset for Ahmedabad.
GE Vernova T&D India won a multi-year contract from AESL Projects for a 2,500 MW HVDC VSC terminal station.
Anupam Rasayan India acquired 100% of US-based Jayhawk Fine Chemicals from CABB Group.
Waaree Energies to invest USD 30 million in United Solar Holding Inc via Series B preferred shares.
Archean Chemical Industries extended a Rs 150 crore loan to subsidiary Neun Infra for a semiconductor project.
Coromandel International Executive Vice Chairman Natarajan Srinivasan resigned effective December 20.
Bank of Baroda received USD 29.39 million from the liquidator of India International Bank Malaysia.
Vodafone Idea received a GST tax demand of Rs 44.7 crore from CBIC, Guwahati.
Urban Company received a GST demand of Rs 56.43 crore and plans to file an appeal.
Adani Enterprises in focus after reports on potential nuclear energy foray following policy changes.
Eraaya Lifespaces withdrew its equity issue application; Supreme Court dismissed review plea of former EBIX CEO.
Tata Chemicals unit to acquire 100% equity of Novabay at an enterprise value of EUR 25 million.
ZF Commercial Vehicle Control Systems India received a CGST demand order of Rs 39.83 crore plus interest and penalty.
IHCL sold a 25.52% stake in Taj GVK to the GVK-Bhupal family and moved to a management agreement model.
The Ramco Cements saw ICRA reaffirm ratings for its Rs 1,300 crore NCDs at ‘AA+ (Stable)’.
Albert David Managing Director and CEO Umesh Manohar Kunte resigned effective December 18, 2025.
TTK Prestige CIO Ramasubramaniam R resigned effective December 19, 2025.
Emami received reaffirmation of bank facility ratings by CARE Ratings.
Tata Steel acquired 1.49 billion equity shares of T Steel Holdings Pte for USD 150 million.
REC incorporated Ambernath Power Transmission Limited as a wholly owned subsidiary.
Granules India said USFDA inspection at Granules Life Sciences concluded with five procedural observations.
John Cockerill India executed an SPA to acquire 100% stake in Belgium-based John Cockerill Metals International SA.
Sudeep Pharma reported net profit of Rs 45.7 crore versus Rs 48.7 crore YoY; revenue increased to Rs 160 crore.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Indraprastha Gas announces record date for dividend eligibility

Aditya Bhagchandani — Wed, 03 Sep 2025 07:34:21 +0000

Indraprastha Gas Limited (IGL) has informed exchanges that its Register of Members will remain closed from September 16, 2025, to September 26, 2025 (both days inclusive) for the purpose of the Annual General Meeting (AGM) and determining eligibility for dividend payment.

The company has set Monday, September 15, 2025, as the record date for the same.

IGL shares surge 4% as Axis Capital upgrades to ‘Buy’ with Rs 224 target

Aman Shukla — Thu, 20 Mar 2025 04:00:43 +0000

Indraprastha Gas Ltd (IGL) shares jumped 4% after Axis Capital upgraded the stock to a ‘Buy’ rating, setting a revised target price of ₹224. The brokerage has initiated coverage on city gas distribution (CGD) companies, citing strong growth potential driven by network expansion, favorable fuel economics, and government support.

Axis Capital anticipates that CGD companies with a higher exposure to compressed natural gas (CNG) will experience the fastest growth. The sector is benefiting from the rapid expansion of gas pipeline infrastructure, improving natural gas accessibility in new regions. Additionally, CNG continues to maintain a substantial cost advantage over petrol and diesel, supporting the growing demand for CNG vehicles. The introduction of new CNG vehicle models is expected to further expand the market, covering nearly 55% of the passenger vehicle industry volume.

Government policies promoting natural gas adoption provide a strong foundation for CGD companies’ sustained growth. Axis Capital’s top picks include Mahanagar Gas Ltd (MGL) and IGL, as their high revenue share from CNG sales positions them for superior performance compared to the overall CGD industry.

City gas distribution companies such as IGL, MGL, and Gujarat Gas are key players in India’s clean energy transition, expanding access to CNG and piped natural gas (PNG) across urban and semi-urban areas.

Indraprastha Gas Ltd (IGL) shares opened at ₹199.40, reaching a high of ₹201.64 and a low of ₹195.00. The stock remains volatile, trading significantly below its 52-week high of ₹285.18 but well above its 52-week low of ₹153.05.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

IGL shares surge 6% after CLSA says price hikes on the cards post Delhi Elections

Aditya Bhagchandani — Wed, 05 Feb 2025 05:10:54 +0000

Shares of Indraprastha Gas Limited (IGL) jumped 5.6% to trade at Rs 204.99 today, following positive sentiment from CLSA’s report hinting at a possible CNG price hike after the Delhi elections. CLSA has maintained its “Outperform” rating on IGL with a target price of Rs 220, citing that the company is likely to increase CNG prices by 4% to meet its unit EBITDA guidance of Rs 7-8 per standard cubic meter.

IGL has not raised CNG prices in Delhi for over three months, despite facing a cut in the allocation of cheap domestic gas, whereas competitors like Mahanagar Gas Limited and Gujarat Gas have already increased their CNG prices by 2-4%. Post-elections, CLSA expects IGL to implement price hikes while still maintaining a healthy price discount compared to diesel and petrol, ensuring minimal impact on its volume growth trajectory. The company’s stock witnessed strong trading momentum, driven by market optimism regarding improved margins and profitability.

IGL fixes record date for bonus issue at January 31

Aditya Bhagchandani — Tue, 21 Jan 2025 08:44:14 +0000

Indraprastha Gas Limited (IGL) has announced the record date for its bonus issue. The Bonus Issue Committee has fixed Friday, January 31, 2025, as the record date to determine the eligibility of shareholders for the bonus shares.

As per the company’s announcement, the bonus shares will be issued in the ratio of 1:1. The deemed date of allotment for the bonus shares is set as Monday, February 3, 2025.

As of 2:13 PM the shares were trading 1.08% lower at ₹398.05 on NSE.

Indraprastha Gas Share Price history

Day	Open	Close	Change %
Mon, Jan 20 2025	₹405.00	₹402.40	-0.64%
Fri, Jan 17 2025	₹397.90	₹405.00	+1.89%
Thu, Jan 16 2025	₹405.00	₹397.50	-1.16%
Wed, Jan 15 2025	₹412.95	₹402.15	-2.21%
Tue, Jan 14 2025	₹407.90	₹411.25	+1.26%
Mon, Jan 13 2025	₹408.10	₹406.15	-1.61%
Fri, Jan 10 2025	₹424.90	₹412.80	-1.60%
Thu, Jan 9 2025	₹407.60	₹419.50	+2.96%

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

IGL announces 31% increase in domestic gas allocation from GAIL

Aman Shukla — Thu, 09 Jan 2025 09:27:42 +0000

Indraprastha Gas Limited (IGL) has received a significant boost as the domestic gas allocation from GAIL (India) Limited has been revised upwards by 31%, effective from 16th January 2025. This revision will increase the share of Domestic Gas in IGL’s CNG segment from 37% to 51%, leading to improved cost efficiency.

Additionally, IGL has secured additional RLNG volumes on a term basis from a major supplier, amounting to around 1.0 MMSCMD at competitive prices. This strategic move is expected to enhance the company’s profitability.

As per the company, the above revision and signing of additional volumes shall have a positive impact on profitability of the company.

In the meantime, IGL shares opened at ₹407.60 today, reaching a high of ₹435.95 and a low of ₹407.00. The stock has a 52-week high of ₹570.35 and a 52-week low of ₹306.10, reflecting notable volatility over the past year. As of 3:01 PM the shares were trading 3.91% higher at Rs 423.40.

IGL shares surge 2% as board to discuss bonus issue on December 10

Aman Shukla — Thu, 05 Dec 2024 04:03:54 +0000

Indraprastha Gas Limited (IGL) shares experienced a significant jump of 2% in trading, following the company’s announcement regarding its upcoming board meeting scheduled for December 10, 2024. The board will deliberate on issuing bonus shares to its equity shareholders, a move that has sparked investor optimism.

Key Highlights of the Announcement:

Bonus Share Issuance:
- The board will determine the bonus share ratio, subject to shareholder approval.
- This marks the first-ever bonus share issuance by IGL.
Trading Window Closure:
- In compliance with regulatory norms, the trading window for dealing in IGL shares has been closed from December 4, 2024, and will reopen 48 hours after the board’s decision is disclosed.

As of 9:33 am, Indraprastha Gas shares were trading 2.48% higher at Rs 369.20 on the NSE.

IGL shares jump 2% as company announce price hike in CNG

Aman Shukla — Mon, 25 Nov 2024 03:49:07 +0000

Indraprastha Gas Limited (IGL) shares surged 2% following a price hike in Compressed Natural Gas (CNG) across regions outside Delhi. The revised rates show an increase of ₹1.5 to ₹4 per kilogram, impacting about 30% of IGL’s operational areas. Notably, Delhi, which contributes 70% of the company’s total CNG consumption, remains unaffected by this hike.

The move is likely to boost IGL’s revenue in non-Delhi regions, sparking positive sentiment among investors. Analysts will closely watch for any ripple effects on demand and profitability in the coming months.

Indraprastha Gas Limited (IGL) shares surge amid strong CNG vehicle growth

Aditya Bhagchandani — Wed, 06 Nov 2024 07:19:20 +0000

Shares of Indraprastha Gas Limited (IGL) gained momentum, as CNG vehicle registrations across India experienced significant growth in October 2024. According to a Citi report, Pan-India CNG vehicle registrations surged by 69% month-on-month and 45% year-on-year, reflecting rising consumer interest in CNG vehicles due to cost efficiency and environmental benefits. This growth creates a favorable outlook for companies like IGL and Mahanagar Gas Limited (MGL).

Strong Regional Performance

In IGL’s and MGL’s key operational areas, CNG vehicle registrations have shown impressive gains. IGL’s area recorded a 40% month-on-month increase and a 55% year-on-year rise, while MGL’s region saw a 60% month-on-month jump and a 47% year-on-year growth. This robust regional demand bodes well for both companies, paving the way for potential revenue expansion.

Volume Growth Outlook for FY25

Citi’s analysis projects that the CNG vehicle base for IGL and MGL, excluding two-wheelers, could expand by approximately 9-10% in FY25. This anticipated growth aligns with the companies’ strategy to capture the expanding CNG market in India, positioning them to benefit from the trend toward cleaner and more cost-effective fuel options.

The ongoing shift towards CNG vehicles supports strong growth prospects for both IGL and MGL, reinforcing their roles in advancing India’s transition to sustainable fuel alternatives.

CNG vehicle registrations surge in October month

Aditya Bhagchandani — Wed, 06 Nov 2024 07:00:55 +0000

CNG vehicle registrations across India showed remarkable growth in October 2024, with Pan-India numbers rising by 69% month-on-month (m/m) and 45% year-on-year (y/y), according to a report by Citi. This uptick reflects increased consumer interest in CNG vehicles, likely driven by cost efficiency and environmental concerns, creating a favorable environment for companies like Indraprastha Gas Limited (IGL) and Mahanagar Gas Limited (MGL).

IGL and MGL’s Regional Growth

In the key geographic areas of IGL and MGL, CNG vehicle registrations saw impressive gains. Registrations in IGL’s area rose by 40% m/m and 55% y/y, while MGL’s area saw a 60% m/m increase and a 47% y/y rise. This regional growth is a positive indicator for both companies, highlighting robust demand and paving the way for potential revenue growth.

Projected Volume Growth for FY25

Citi’s report also projects that IGL and MGL’s CNG vehicle base (excluding two-wheelers) could expand by approximately 9-10% in FY25. This anticipated increase in their CNG vehicle base is expected to support sustained volume growth for both companies, making them well-positioned to capitalize on the expanding CNG market in India.

With the ongoing trend toward CNG vehicles, both IGL and MGL are likely to experience strong growth, further solidifying their roles in India’s transition to cleaner and more cost-effective fuel options.

BSE Smallcap Index down as these stocks fell up to 15.25%

Aditya Bhagchandani — Fri, 18 Oct 2024 05:03:14 +0000

The BSE Smallcap index witnessed a decline today, with stocks like Manappuram Finance dropping by 15.25%, followed by Mahanagar Gas, which fell by 13.27%. Quick Heal Technologies also saw a sharp dip of 10.46%. Other notable decliners included Stylam Industries, 5Paisa Capital, and SMS Pharma, as the market faced broad-based selling pressure.

The BSE Smallcap index witnessed a significant decline today, with several stocks experiencing sharp drops. Below is the list of major losers:

Company	CMP (₹)	Change (%)
Manappuram Finance	150.35	-15.25
Mahanagar Gas	1,526.95	-13.27
Quick Heal Tech	681.05	-10.46
Stylam Industries	2,429.10	-8.57
5Paisa Capital	538.25	-5.51
SMS Pharma	316.05	-5.15
Tanla Platforms	818.80	-4.50
360 ONE WAM	1,059.40	-4.32
Voltamp Transformers	13,475.85	-4.24
Nacl Industries	52.84	-4.10

These drops reflect a challenging trading session as the market faced broad-based selling pressure across sectors.

Nifty Oil and Gas Index and BSE Oil and Gas Index down up to 1.23% as domestic gas supply cuts impact city gas companies

Aditya Bhagchandani — Fri, 18 Oct 2024 04:56:30 +0000

The Nifty Oil and Gas Index fell by 1.23% today, led by sharp declines in shares of city gas distribution companies. This drop comes after the government reduced the allocation of cheaper domestic gas to these companies by up to 20%, forcing them to rely more on expensive imported gas. This shift is expected to put pressure on their profitability, although any price hikes for CNG could be delayed due to upcoming elections in Maharashtra.

Indraprastha Gas Limited (IGL) reported that its domestic gas allocation had been reduced by 21% from October 16, 2024. This gas, previously available at a capped rate and priced much lower than imported gas, has been crucial for the company’s operations. The reduction in supply is expected to negatively impact the company’s profitability.

Indraprastha Gas shares drop over 6% after domestic gas allocation cut by 21%

Mahanagar Gas Limited (MGL) is also affected by a 20% reduction in its domestic gas allocation for CNG transport. The Ministry of Petroleum and Natural Gas had earlier issued guidelines prioritizing domestic gas allocation for CNG and piped natural gas segments. However, with the reduced supply, MGL is looking for alternatives, including sourcing high-pressure high-temperature (HPHT) gas and new well/well intervention gas from ONGC to make up for the shortfall.

https://www.businessupturn.com/finance/stock-market/mahanagar-gas-shares-drop-over-8-after-20-reduction-in-gas-allocation/

The broader market sentiment has been negative, with the BSE Oil and Gas Index also reflecting declines as BPCL, HPCL, and other major companies saw drops in their stock prices.

The sector is bracing for challenging times as the increased reliance on imported gas is expected to drive up costs, potentially leading to price adjustments in the coming months.

IGL receives 21% lower domestic gas allocation, expected to adversely impact profitability

Aditya Bhagchandani — Thu, 17 Oct 2024 10:49:24 +0000

Indraprastha Gas Limited (IGL) has announced a significant reduction in its domestic gas allocation, which has been lowered by 21% effective October 16, 2024. This reduction in allocation, communicated by GAIL (India) Ltd., is expected to negatively impact IGL’s profitability. The company relies on domestic gas for meeting its compressed natural gas (CNG) sales requirements at government-regulated prices.

IGL is currently in discussions with key stakeholders to explore ways to mitigate the adverse impact of this reduction on its financial performance. The company is working towards minimizing the potential hit to its profitability.

IGL share price jumps 5% after UBS upgrades stock to Buy, raises target by 75%

Aditya Bhagchandani — Tue, 17 Sep 2024 03:57:15 +0000

Shares of Indraprastha Gas Limited (IGL) surged nearly 5% after UBS made a significant upgrade in its rating for the company. The brokerage shifted its stance from “Sell” to “Buy,” reflecting increased confidence in IGL’s future performance. UBS also raised its target price for the stock to ₹700, a substantial 75% increase from the previous target of ₹400.

This positive outlook comes as UBS anticipates a stronger growth trajectory for IGL. While the company saw a modest 4% year-on-year growth in FY24, UBS expects the growth rate to accelerate to 8.2% CAGR from FY24 to FY27, supported by the company’s infrastructure expansion and new market entries.

Previously, UBS had concerns about potential risks tied to electrification and slowing growth. However, it now believes these challenges are manageable and sees strong near-term fundamentals for IGL. The firm also noted the potential for mergers and acquisitions, which could further boost the company’s value.

At 9:22 am, IGL’s shares were trading 4.63% higher at ₹554.40 on the NSE.

UBS double upgrades IGL to Buy from Sell, increases target price by 75%

Markets Desk — Tue, 17 Sep 2024 01:44:02 +0000

UBS has upgraded its rating on Indraprastha Gas Limited (IGL) from “Sell” to “Buy,” reflecting a significant shift in its outlook for the company. The brokerage has also raised its target price for IGL to Rs 700, a notable increase of 75% from the previous target of Rs 400.

The revised recommendation comes as UBS forecasts an improvement in IGL’s volume growth trajectory. After experiencing a subdued growth rate of around 4% YoY in FY24, UBS now expects the company’s volume growth to accelerate to an 8.2% CAGR from FY24 to FY27. This optimism is driven by the company’s planned infrastructure expansion and entry into new geographies.

UBS had previously maintained a bearish stance on IGL due to concerns about tapered volume growth and potential risks associated with electrification. However, the brokerage now believes that these risks are manageable and that IGL’s strong near-term fundamentals, combined with potential inorganic growth opportunities, offer a compelling investment case.

The upgrade also reflects UBS’s revised outlook on IGL’s market position and growth potential, which includes potential mergers and acquisitions that are not yet priced into the current valuation.

Stocks To Watch Today: IGL, Avenue Supermarts, AMI Organics, DLF, Adani Enterprises

Markets Desk — Mon, 15 May 2023 01:36:11 +0000

The SGX Nifty signals a weak start for the Sensex, Nifty today. Cues from US markets remained mixed as Dow Jones, S&P 500 and Nasdaq ended in red on Friday. Markets in India recovered sharply on Friday, with the Nifty comfortably ending above the 18,300 mark.

Top stocks to watch today are IGL, Avenue Supermarts, AMI Organics, DLF, Adani Enterprises, besides others.

IGL: Shares of Indraprastha Gas Ltd (IGL) will be in focus today on the back of its Q4 numbers. The company reported a operational miss in the quarter, with margins coming in lower than the analyst and street expectations. The company’s revenue came in at Rs 3,685 crore against Rs 3,711 crore in the previous quarter. Margin came in at 12.6% against a CNBC-TV18 poll of 13.8%.

Avenue Supermarts (DMart): Avenue Supermarts reported a good set of Q4 numbers with its net profit coming in higher by 8% on a YoY basis at Rs 460 crore against Rs 426 crore in Q4FY22. The company’s revenue grew 20.6% to Rs 10,594 crore against Rs 8,786 crore in the same quarter last year.

Adani Enterprises: Shares of Adani Enterprises will be in focus today as the company’s board has approved a fund raise of Rs 12,500 crore via QIP.

Ami Organics, DLF, Max Financials will be a few other stocks in focus on the back of their Q4 numbers.

Stocks To Watch Today: Titan, Tata Motors, Sobha, IGL, MGL, Guj Gas

Markets Desk — Mon, 10 Apr 2023 01:14:56 +0000

The SGX Nifty signals a flat start for the Sensex, Nifty today. Cues from US markets remained mildly positive as Dow Jones, S&P 500 and Nasdaq ended marginally higher on Friday. Markets in India will now focus on the earnings season that kick starts this week with IT majors TCS and Infosys to report their numbers.

Top stocks to watch today are Titan, Tata Motors, Sobha, IGL, MGL, Guj Gas, besides others.

Titan: Shares of Titan will be in focus today after the company in its Q4 business update announced that the company recorded healthy double-digit growth across all categories. The company’s jewellery revenue grew by 23% on a low base, it said.

Tata Motors: Tata Motors’ Jaguar-Land Rover registered a 30% growth YoY in retail sales at 1.02 lakh units for the quarter ended March FY23. Its total global sales, including JLR rose 8% to 3.61 lakh units.

Sobha: Real Estate developer Sobha reported its best ever quarterly sales in Q4FY23. The company’s sales value grew 26% and stood at Rs 1207 crore against Rs 961 crore on a year-on-year basis.

IGL, MGL, Guj Gas: Shares of gas companies like IGL, MGL, and Guj Gas will be in major focus today after the government accepted and took into consideration the recommendations of the Kirit Parikh Committee. The floor price for gas pricing now stands at at $4/mmbtu, ceiling at $6.5/mmbtu.

IGL, MGl, Guj Gas trade higher on expectations of approval of Kirit Parikh panel recos by cabinet

Markets Desk — Wed, 05 Apr 2023 09:18:25 +0000

Shares of consumer distribution gas companies like IGL, MGL and Gujarat Gas surge in trade on expectations that the Kirit Parikh panel’s recommendation to the cabinet to keep $4-6.50/mmBtu gas price band will be considered. According to media reports, the cabinet in its meet this week is likely to consider the proposals made by the committee, which will be a big positive for these gas companies.

Shares of IGL surged over 4% in trade on Wednesday, MGL share price surged over 3% in trade, while shares of Gujarat Gas jumped over a percent and hit a day’s high of Rs 466 per share. If the recommendations of Kirit Parikh panel are approved then it would lead to lower gas costs for city gas distribution cos mentioned above.