Gas distribution firms edge higher on the buzz of government directing ONGC, GAIL to divert 0.6 mmscmd gas to city gas firms
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The companies related to City Gas Distribution (CGD) traded higher on report that Oil Ministry has asked GAIL (India) and Oil & Natural Gas Corporation (ONGC) to divert 0.6 mmscmd gas to city gas firms. This move will reduce City Gas Distribution firms' dependence on gas from spot market.
Indraprastha Gas is currently trading at Rs. 444.30, up by 17.40 points or 4.08% from its previous closing of Rs. 426.90 on the BSE. The scrip opened at Rs. 427.35 and has touched a high and low of Rs. 446.75 and Rs. 423.30 respectively.
Mahanagar Gas is currently trading at Rs. 1319.85, up by 23.70 points or 1.83% from its previous closing of Rs. 1296.15 on the BSE. The scrip opened at Rs. 1290.35 and has touched a high and low of Rs. 1328.50 and Rs. 1290.35 respectively.
Gujarat Gas is currently trading at Rs. 515.80, up by 7.80 points or 1.54% from its previous closing of Rs. 508.00 on the BSE. The scrip opened at Rs. 508.00 and has touched a high and low of Rs. 517.00 and Rs. 507.85 respectively.
