City gas distribution stocks in focus: IGL, MGL, Gujarat Gas up 4%

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.

Shares of City Gas Distribution (CGDs) companies were in focus in Tuesday's intra-day trade as they gained up to 4 per cent in an otherwise subdued market.

At 11:04 am, shares of Mahanagar Gas (MGL), Indraprastha Gas (IGL) and Gujarat Gas Company were up 4 per cent. In comparison, the S&P BSE Sensex was down 0.16 per cent at 57,056 points.

In the past three months, these stocks have rallied in the range of 8 per cent to 18 per cent, as compared to 8 per cent gain in the S&P BSE Sensex. However, in the past one