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ONGC, Oil India to gain most from gas price hike; IGL worst hit: Analysts

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

Topics
Gas price | ONGC | OIL India

Puneet Wadhwa  |  New Delhi 



ONGC, Oil India to gain most from gas price hike; IGL worst hit: Analysts

The 40 per cent hike in gas prices under the administered price mechanism (APM) advised by the Kirit Parekh committee last week from $ 6.26/ Metric Million British Thermal Unit (mmbtu) to $8.57/mmbtu, and 26.26 per cent jump in high pressure, high temperature (HPHT) to $12.5/mmbtu will have a far reaching implication. While the cost of producing fertilisers, power, and ceramic tiles etc. will go up, select upstream companies, analysts said, will reap benefits of the move. However, the proposal will need Cabinet approval.

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First Published: Mon, October 03 2022. 10:42 IST

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