CGD

On the bourses, IGL share price rallied up to 5.54 per cent to an intraday high of ₹193.35 per share, while MGL share price rose up to 4.22 per cent to an intraday high of ₹1,159.25.

Nomura has maintained a 'Reduce' rating on Gujarat Gas Ltd (GGL), citing intense competition in the I&C space, subdued volume growth prospects, and constrained pricing power.

Mahanagar Gas' stock fell as much as 6.47 per cent during the day to ₹1,230 per share, the worst intraday session since November 18 last year

Motilal Oswal Financial Services believe that IGL shall be affected the most by this significant reduction in the domestic gas allocation, followed by MGL and then Gujarat Gas.

Given the weak demand, and lower price arbitrage versus petrol/ diesel, and upcoming Assembly elections, price increases will be gradual, hitting margins across H2FY25

APM gas allocation cut by around 20% for CNG segment will have an adverse impact on the profitability of MGL and IGL

Market analysts are somewhat divided on the CGD companies and on OIL and ONGC

The meeting is to be chaired by the cabinet secretary

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.

Privatisation of state-owned firm held up after money laundering case against top bidder

'Leave' in August could be annual feature and will follow Chinese industry taking a break every February

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.

The company has got 16 geographical areas covering 32 districts with a population of over 90 mn, in the ninths and tenth round of CGD bidding

PNGRB has said the regulation for allowing competition in CGD areas will be notified in the next one to one and a half months.

The company also looks to advance work on the Gujarat and Rajasthan geographical areas

The round is also aimed at achieving the Prime Minister's target of achieving piped cooking gas connection in 10 million houses by 2020