[ad_1] Shares of city gas distribution (CGD) companies, Mahanagar Gas (MGL) and Indraprastha Gas (IGL), dropped by up to 2% in Friday’s intraday trading. Company Value Change %Change IGL shares were upgraded to ‘Add’ from ‘Reduce,’ with a 17% increase in the price target to ₹450, suggesting a 7% potential upside. MGL shares were also […]
IGL, MGL shares may face more headwinds in case of no GST inclusion – CNBC TV18
[ad_1] Despite the rebound seen in shares of Indraprastha Gas, Mahanagar Gas and Gujarat Gas from the lows of November makes fundamentals further unsupportive for these companies, according to brokerage firm Nuvama. Company Value Change %Change The brokerage said that the market is pricing in an elusive GST rollout for natural gas, but are ignoring […]
IGL, MGL risk-reward ‘compelling’, Citi says; Also bets on IOC – CNBC TV18
[ad_1] Global brokerage firm Citi believes city gas companies such as Indraprastha Gas Ltd. and Mahanagar Gas Ltd. offer compelling risk-reward opportunity. In addition to Hindustan Petroleum Corp Ltd and Gail (India) Ltd., Citi has opened a positive catalyst watch on Indian Oil Corporation Ltd. Company Value Change %Change In its note on the Oil […]
IGL Bonus: City Gas distributor first among peers to consider free share issue – CNBC TV18
[ad_1] The board of Indraprastha Gas Ltd. will meet on December 10 to consider a bonus issue of shares. This will be the first instance that the company will be declaring a free share issue for its shareholders. Company Value Change %Change With this, IGL has also become the first among its players to consider […]
Gujarat Gas also hikes prices by 2% after IGL and MGL; Check new rates here – CNBC TV18
[ad_1] Gujarat Gas Ltd. has hiked the prices of Compressed Natural Gas (CNG) by ₹1.5 per Kg to ₹77.76 per Kg, the company said on Monday, December 2. The company said that there are no plans yet to hike gas prices for industrial users. Gujarat Gas has also hiked prices by 2%, compared to a […]
IGL, MGL shares fall up to 10% after second straight month of gas allocation cut, downgrades – CNBC TV18
[ad_1] Shares of Indraprastha Gas Ltd. and Mahanagar Gas Ltd., the city gas distribution companies, were downgraded by analysts yet again after the government, over the weekend, cut its APM gas allocation to these companies by another 20%. This was the second straight month in a row that the gas allocation has been cut. The […]
Indraprastha Gas sees ‘adverse impact’ on profitability on lower gas allocation – CNBC TV18
[ad_1] City gas distributor Indraprastha Gas Ltd. (IGL) informed the exchanges on Thursday, October 17, that the company’s profitability will see an ‘adverse impact’, as it has received lower gas allocation than earlier, confirming a CNBC-TV18 newsbreak from earlier in the day. Indraprastha Gas’ domestic gas allocation is 21% lower than the previous allocation. The […]