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Mahanagar Gas gains on reducing CNG, PNG prices

Mahanagar Gas is currently trading at Rs. 894.45, up by 3.75 points or 0.42% from its previous closing of Rs. 890.70 on the BSE.

The scrip opened at Rs. 894.75 and has touched a high and low of Rs. 904.05 and Rs. 892.35 respectively. So far 2472 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1,057.20 on .29-Mar-2019 and a 52 week low of Rs. 754.70 on 22-Jul-2019.

Last one week high and low of the scrip stood at Rs. 930.75 and Rs. 877.20 respectively. The current market cap of the company is Rs. 8879.63 crore.

The promoters holding in the company stood at 42.51%, while Institutions and Non-Institutions held 46.98% and 10.52% respectively.

Mahanagar Gas has reduced prices for the compressed natural gas (CNG) and domestic piped natural gas (PNG) following a drop in the domestically produced gas. The company has reduced its CNG price by Rs 2.04 per kg and PNG by Rs 1.19 per SCM in and around Mumbai effective from October 03 night.

Accordingly, revised delivered prices inclusive of all taxes of CNG and PNG will be Rs 49.95 per kg and Rs 30.60 per SCM (Slab 1) and Rs 36.20 per SCM (Slab 2) respectively.

Mahanagar Gas is a city gas distribution company. The company is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its adjoining areas and in the Raigad district in the state of Maharashtra.

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