Gujarat Gas

The proposed domestic gas pricing formula by Kirit Parikh panel will likely provide headroom to CGDs to reduce prices and improve margins, but this may hurt producers like ONGC, Oil India, experts say

Shares of gas distribution companies have being in focus on expectations of rise in demand, coupled with a favourable outcome from the Kirit Parikh report.

Analysts expects overall gas demand from the CNG and DPNG sectors to grow at 15.7 per cent CAGR over FY22-27 supported by aggressive expansion in infrastructure.

GAIL has come under pressure since it is not receiving contracted liquefied natural gas (LNG) cargoes and it is being forced to buy LNG at much higher prices

Analysts have lowered their earnings estimates, but have 'buy' recommendations for several stocks

The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.

At 10:00 am; CGD stocks were up in the range of 4 per cent to 7 per cent, as compared to 0.43 per cent decline in the S&P BSE Sensex.

Stocks to Watch Today: The primary market too is likely to be abuzz with activity with three IPOs namely - Delhivery, Prudent Corporate Advisory Services IPO and Venus Pipes IPO open for subscription.

For whole of FY22, the firm's consolidated net profit rise by only 1% to Rs 1287.37 crore

NTPC is the premier energy utility of the country with an installed capacity of 69 GW, with a diversified fuel mix

IGL, Gujarat Gas and MGL have seen profitability contract in Q3

Stock market LIVE: Sectorally, Nifty Auto index was the top performer now, up 1.5 per cent, followed by Nifty Private Bank, and IT indices. PSU index was the sole loser, down 0.8 per cent.

The technical & derivative analyst from HDFC Securities expects weakness in Nifty to continue

According to the technical analyst from Anand Rathi, Axis Bank is in a secular uptrend and can rally up to Rs 870

Natural Gas related stocks were in focus on the back of CNG and piped gas price hike in several northern India cities

The likes of Adani Total Gas, GAIL India, Petronet LNG, Indraprastha Gas, Gujarat Gas can witness 6-15 per cent upside as per the daily and weekly chart patterns

LUPIN has corrected over 25 per cent from its 52 weeks high and is currently placed near its historical demand zone of 900 odd levels

As restrictions are being lifted gradually in many of company's operating areas, natural gas demand is likely to improve

The company's gas sales volume till date in the FY22 stands close to 10 mmscmd as against average gas sales of 9.39 mmscmd in FY21

L&T Tech's stock price has broken out from the long-term consolidation, which it held for the last two months