City gas cos' stocks in the red as govt cuts APM quotas

 19 Nov 2024 06:20 AM

IGL plunged 19.8% to ₹325, its lowest closing since March 2020. MGL tumbled 13.8% to ₹1,130.55, the lowest closing since June 2023. Gujarat Gas, which already derives most of its supplies at market rate, fell 6.8% to ₹452.5 on Monday.

Breakdown Stocks: How to trade IGL, Honasa Consumer & Nestle India that hit a 52-week low?

 18 Nov 2024 05:42 PM

Indian markets opened lower on Monday, with the Sensex falling over 200 points and the Nifty closing below 23,500. Auto, realty, and metal stocks gained, while healthcare, utilities, energy, oil & gas, and IT stocks declined. IGL, Honasa Consumer, and Nestle India were among the stocks that hit 52-week lows.

Gainers & Losers: ACME Solar, IGL among 6 stocks in limelight on Monday

 18 Nov 2024 04:06 PM

Indian benchmarks fell as IT stocks dropped; Garware, ACME Solar, Godrej Industries surged, while Honasa Consumer, IGL, MGL declined.

Gujarat Gas, MGL best positioned amid city gas sector's uncertainty: Probal Sen

 18 Nov 2024 02:27 PM

The differential with alternate fuels like petrol and diesel is the highest in Mumbai and probably the lowest in IGL's case, because in Delhi the tax structure is slightly different for even petrol and diesel compared to Bombay.

CGD firms MGL, IGL shares nosedive 18% on APM gas allocation cuts

 18 Nov 2024 11:20 AM

IGL Share Price: Shares of Mahanagar Gas and Indraprastha Gas dropped by up to 18% after the government reduced the APM allocation by 20% for the second consecutive month. In response, Nirmal Bang downgraded both stocks to a 'Sell' rating, cutting target prices for MGL by 35% and IGL by 31% due to revised EBITDA estimates, concerns over slower growth & narrower margins.

IGL, MGL shares nosedive 18% on APM gas allocation cuts for CGD firms

 18 Nov 2024 11:20 AM

IGL Share Price: Shares of Mahanagar Gas and Indraprastha Gas dropped by up to 18% after the government reduced the APM allocation by 20% for the second consecutive month. In response, Nirmal Bang downgraded both stocks to a 'Sell' rating, cutting target prices for MGL by 35% and IGL by 31% due to revised EBITDA estimates, concerns over slower growth & narrower margins.

CNG retailers want price hike, govt wants to see cost

 17 Nov 2024 11:57 AM

City gas companies in India, including IGL and Adani Total Gas, are considering raising CNG prices due to reduced supplies of cheaper natural gas. Government officials argue that these companies have substantial profit margins and should absorb the increased costs instead of passing them on to consumers.

More cuts in domestic gas supply to CNG firms, IGL says to impact profitability

 15 Nov 2024 05:46 PM

Indraprastha Gas Ltd (IGL) has announced a second reduction in domestically produced natural gas supply, impacting CNG availability and potentially leading to price hikes. This cut, effective November 16th, follows a similar reduction in October, impacting IGL's profitability and forcing them to explore alternative solutions.

India Glycols partners Amrut Distilleries, plans to demerge spirits biz

 13 Nov 2024 07:02 PM

India Glycols Ltd (IGL) partners with Amrut Distilleries to tap into the premium whisky market in north India. IGL, eyeing double-digit market share in this segment, plans to demerge and list its spirits business, which currently contributes to 25% of its revenue and is its fastest-growing segment.

IGL: CITI SAYS SALES IN THE GEOGRAPHIC AREAS OF IGL / MGL HAVE GROWN 40% / 60% ON A M/M BASIS AND 55% / 47% ON A Y/Y BASIS

 06 Nov 2024 12:12 PM

IGL: CITI SAYS SALES IN THE GEOGRAPHIC AREAS OF IGL / MGL HAVE GROWN 40% / 60% ON A M/M BASIS AND 55% / 47% ON A Y/Y BASIS