Mahanagar Gas - CNG, PNG price cut - Oct 7, 2020 - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Mahanagar Gas cut price of CNG & PNG for retail with immediate effect. Price of CNG (compressed natural gas) is cut by Rs 1.05/kg and price of PNG piped natural gas which is used for domestic use is cut by Rs 0.70 per SCM (standard cubic meter) in Mumbai region. As the domestically produced natural gas procurement price has come down, the company has also cut its CNG & PNG prices by keeping margins at almost same levels. After the price cut the current prices of CNG is Rs 47.9/kg and domestic PNG at Rs 28.9/SCM and Rs 34.50/SCM. As the margins of the company have maintained at the same levels this price cut will not affect the company."

Shares of Mahanagar Gas Ltd was last trading in BSE at Rs.857.45 as compared to the previous close of Rs. 854.6. The total number of shares traded during the day was 51981 in over 2613 trades.

The stock hit an intraday high of Rs. 861.6 and intraday low of 845.5. The net turnover during the day was Rs. 44264229.

Source : Equity Bulls

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