Going ahead, analysts expect natural gas prices to stay elevated in the backdrop of developments in West Asia. In March alone, prices of natural gas have climbed 16 per cent to $3.277/MMBtu
Stocks to Watch today, March 12: Ashok Leyland, Akzo Nobel, Jindal Steel, Bharat Forge, ACME Solar, and Adani Ports are among the top stocks to remain in focus today
CGD companies may experience higher input gas prices, potential supply cuts and margin pressure amid regulatory and competitive constraints, according to Kotak Securities
Q3FY26 company results: Firms including Tinna Rubber and Infrastructure, Autoline Industries, Balkrishna Paper Mills, and VST Tillers Tractors are also to release their October-December earnings today
India-US trade deal is incrementally positive for Reliance Industries as it will reopen access to European Markets due to the availability of Venezuelan crude.
The brokerage said INR depreciation of about 6% Y-o-Y in Q3 has weighed on margins of OMCs and CGD players, partly offsetting the benefit of softer crude oil prices.
According to Motilal Oswal Financial Services, the sector has also benefited from a series of regulatory and taxation reforms aimed at improving affordability and project viability
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.
City gas distributors Indraprastha Gas and Mahanagar Gas may see a major earnings lift as Gujarat slashes VAT on gas to 2%. Analysts expect improved margins, profitability, and strong stock upside
Axis Securities has initiated 'Buy' on Mahanagar Gas as it believes the company can leverage its presence in one of the country's most urbanised and high-income regions-Mumbai
PNGRB tariff news: While analysts see IGL benefitting the most from the changes due to the possibility of charging higher tariffs, MGL and GGL may be negatively impacted, they said
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.
