Mahanagar Gas shares slide amid Mumbai CNG supply disruption

Mahanagar Gas Limited (MGL) shares continued to decline as a major CNG supply disruption hit the Mumbai Metropolitan Region (MMR).

The MGL stock fell 1.42% on Monday (17 November) and is down another 0.45% to trade at Rs 1,230.10 on the BSE today. The stock is down 1.87% in two consecutive sessions.

Media reports said the disruption began after GAIL's main gas pipeline was damaged inside the RCF premises in Trombay. The incident affected supply at MGLs City Gate Station in Wadala from Sunday, 16 November.

MGL is prioritising supply to domestic Piped Natural Gas customers.

Several CNG stations across Mumbai, Thane and Navi Mumbai remain shut. Restoration work is in progress. Supply is expected to normalise by 18 November, according to reports.

 

MGL is in the business of city gas distribution (CGD), presently distribution of natural gas for domestic industrial, commercial customers and CNG vehicles.

The company's standalone net profit tanked 32.57% to Rs 193.37 crore while revenue from operations (excluding excise duty) surged by 14.72% YoY to Rs 2,049.33 crore in Q2 September 2025.

Powered by Capital Market - Live News