 "Brokerages ask clients to 'subscribe' to Mahanagar Gas IPO")
Mahanagar Gas on Tuesday cut the prices of kitchen fuel Piped Natural Gas (PNG) and automobile fuel Compressed Natural Gas (CNG), following an increase in allocation of domestically produced natural gas from the government.
The price of PNG has been reduced by Rs 4 per standard cubic metre to Rs 48.50 per SCM, while that of CNG by Rs 6 a kilogram to Rs 80 per kg, as per an official statement.
After the rate revision, CNG usage will help a vehicle owner save 48 per cent on fuel costs in the financial capital, Mahanagar Gas Ltd (MGL) said.
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