News for Mahanagar Gas Limited (MGL.NS)

CNG prices in Mumbai Metropolitan Region have increased by ₹1.50 per kg, now costing ₹79.50, while piped natural gas rose by ₹1 per unit, reaching ₹49. This marks the fourth CNG price hike in six months, attributed to rising domestic gas prices and exchange rates. Despite the increase, CNG remains a more economical option compared to petrol and diesel.

Indian markets ended flat on Friday, with gains in Reliance Industries offsetting losses in IT stocks amid cautious market sentiments. Global uncertainties due to U.S. tariffs and trade policy concerns weighed on investor sentiment. While Nifty showed short-term potential, analysts suggest focusing on large caps and fundamental stocks for future growth amidst ongoing market volatility.

Three persons suffer burn injuries in Mumbai after gas pipeline fire, vehicles damaged, blaze extinguished quickly.

Buoyed by rising consumption of natural gas, Mahanagar Gas (MGL), which retails the commodity for vehicles and households in Mumbai and adjoining areas, will start scouting for contracts by 2025-end.

Foreign Institutional Investors (FIIs) decreased their share by volume in companies listed on NSE to 5.81% as of December 30, 2024, down from 5.89% on September 30, 2024, according to data from primeinfobase.com. At the same time, FIIs added to their holdings in Indiabulls Enterprises, Home First Finance, and IDFC First Bank, while trimming their stakes in IndusInd Bank and Mahanagar Gas. Here's a list: Portfolio Tracker

Mumbai pollution: The Maharashtra government has formed a panel to explore phasing out petrol and diesel vehicles in Mumbai Metropolitan Region (MMR) to curb rising pollution. Headed by Sudhir Kumar Shrivastava, the panel will study feasibility and submit recommendations within three months

US-based IBC to establish lithium-ion gigafactory in Karnataka, creating jobs and boosting economy with global battery exports.

Both the benchmark Sensex and Nifty were trading higher at noon on Tuesday. At 12:00 p.m., the NSE Nifty 50 was up 0.44% at 23,190 level and BSE Sensex by 0.37% near 76,600. From HCLTech Ltd., Adani Ports & SEZ Ltd., and Angel One Ltd. to Mahanagar Gas Ltd., here are the stocks that moved the most.

Mahanagar Gas Limited's domestic gas allocation to increase by 26%, boosting profitability and stock performance on NSE.

Puravankara Ltd acquires land in Bengaluru for housing project; Adani Wilmar offers stake sale; GAIL increases gas allocation.

India Business News: Traders anticipate a positive start to the first full week of the New Year, with Nifty futures indicating growth. Consumer stocks like Jubilant Foodwo

Mahanagar Gas shares rose 4% in intraday trade, after the company announced a ₹2 per kg price hike for CNG in Mumbai and nearby areas.

The price adjustment, aimed at offsetting higher costs, raises the delivered CNG price to ₹77 per kg, including taxes, the company said in a statement.

Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

Indian stock markets closed lower on Monday, dragged down by IT stocks after Federal Reserve Chair Jerome Powell hinted at delayed interest rate cuts due to strong U.S. economic growth. The Sensex fell 241 points, while the Nifty slid 79 points. Tech companies like TCS and Infosys were among the top losers.

The sharp sell-off reflects market concerns over rising input costs due to lower APM gas availability, impacting profitability expectations.

Gas distribution companies' shares plummet after APM reduction, leading to downgrades by analysts and global brokerages.

Prestige Estates to launch ₹52,000 crore housing projects, ACME Solar secures ₹3,753 crore loan, Dr Reddy's recalls medications.

Stocks that will seee action today: Buzzing Stocks: BSE, Zomato, Reliance Industries, RInfra, Adani Enterprises, Adani Energy, PNB, Apollo Hospitals, Angel One, Future Lifestyle, Lupin, Biocon, Zydus Lifesciences, Dr Reddy’s Lab, BEL, ICICI Prudential, REC, SW Solar, Welspun Enterprises, KRBL, Kohinoor Foods, Chaman Lal Setia, Pidilite, NHPC, Mahanagar Gas