Govt boosts gas supplies to CGD firms, stocks rise
Financial Express Hyderabad|January 04, 2025
SHARE PRICES OF City Gas Distribution (CGD) companies, including Indraprastha Gas, Mahanagar Gas, and Gujarat Gas, surged by up to 6% on Friday, recovering from intraday lows.
FE BUREAU

The rally came after the oil ministry announced reallocation of natural gas, diverting supplies from LPG production to city gas retailers to meet the demand for compressed natural gas (CNG) and piped cooking gas.

Share prices of Indraprastha Gas rose by as much as 6.19% to a high of ₹453.35 on the BSE before closing at ₹441.20, up 3.35% from the previous close. The Mahanagar Gas stock gained 2.5% intraday and ended the day at ₹1,316, up 1.53%. Gujarat Gas share prices closed at ₹514.15, reflecting a 1.2% increase.

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