Indraprastha Gas

The Government of India has accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the APM fields.

Stocks to Watch: Shares of city gas distributors are likely to be in focus today as they react to government's nod for new pricing regime.

Genesis, an arm of Vikas Lifecare Limited (VLF), has inked a pact with Indraprastha Gas Limited (IGL) to set up a meter manufacturing plant at an estimated cost of Rs 110 crore. The unit will be set up through a joint venture company, VLF said in a statement on Monday. Genesis Gas Solutions Pvt Ltd (Genesis) has entered into a JV agreement with IGL to set up a smart meter manufacturing plant with a capex of Rs 110 crore, it added. "The unit will manufacture diaphragm gas meters equipped with IoT technologies like LoRa, LoRaWAN, Bluetooth, NFC, NB-IoT etc.," the statement said. Initially, the smart meter plant will have an installed capacity to manufacture one million meters annually. In the JV, IGL and Genesis will have equity participation in the ratio of 51:49. The unit is expected to be operational by April 2024. Vikas Garg, Chairman of Vikas Group & Director Genesis, said the JV will be a game changer. It will also aim to tap the demand in the international market, besides .

The stock price of Indraprastha Gas (IGL) has been taking support at 200 day EMA since January 2023

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

CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.

Varun Beverages, Tube Investments, IHCL seen as potential inclusions

Analysts at Antique stock Broking said every $1/mmbtu rise in gas prices is expected to lift ONGC, and Oil India's standalone Ebitda by 4 per cent, and 7 per cent, respectively

The government has hiked prices of domestically produced natural gas for the October 2022-March 2023 period

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.

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

Stocks to Watch: The US markets suffered the biggest one-day sell-off in almost two years -Investors worry about inflation and its impact on earnings and prospects for monetary policy tightening

Earlier, on March 24, the PNG price was increased by Rs 1/SCM

Reports suggest IGL has announced a hike in prices of compressed natural gas (CNG) in the Delhi-NCR region

MGL said the company's Ebitda margins declined in Q3 mainly due to increase in administered pricing mechanism (APM) and market determined gas prices.

The Delhi government on Saturday notified a draft "aggregator's policy" under which ride aggregators and delivery services will have to mandatorily adopt EVs while procuring new fleet.

IGL hikes price of domestic PNG in Delhi by 50 paise

FII fund flows, corporate earnings and ongoing IPOs likely to be in focus today

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