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The central government's decision to increase the domestic administered pricing mechanism (APM) gas price will negate the benefit of increased APM gas allocation to compressed natural gas (CNG) players, <keyword id="151304" type="General" weightage="100" keywordseo="jefferies" source="Orion">Jefferies</keyword> said in a report. In a report, Jefferies said the CNG players have limited room to increase the prices given worsening economics. According to the report, GAIL, Indraprastha Gas and <keyword id="156122" type="General" weightage="80" keywordseo="mahanagar-gas" source="Orion">Mahanagar Gas</keyword> are the key losers, <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Ltd could be a marginal beneficiary. The allocation of high pressure and high temperature (HPHT) gas from Reliance Industries' KG Field by end of 2022 and new pricing formula from a government appointed committee could provide some respite. The APM gas price has been revised from $6.26/mmbtu (effective) to $8.57/mmbtu while HPHT gas price has been revised from $9.9/mmbtu to $12.5/mmbtu. The government-appointed committee under Kirit Parikh has been asked to submit its recommendation on domestic gas pricing by mid-October. Jefferoes said Indraprastha Gas needs to raise CNG price by about Rs 8/kg and <keyword id="222307" type="General" weightage="80" keywordseo="mahanagar" source="Orion">Mahanagar</keyword> Gas by Rs 9/kg to pass on the impact of the rise in feedstock cost. This would reduce CNG's discount to gasoline/diesel from about 45/3 0 per cent to about 40/20 per cent for Indraprastha and Mahanagar. This could impact volume growth. For <keyword id="6391571" type="General" weightage="50" keywordseo="gujarat-gas" source="Orion">Gujarat Gas</keyword>, the impact will be relatively small as the priority sector constitutes only about 25 per cent of overall volume, Jefferies said. The rise in APM gas cost roughly offsets the benefit of higher allocation (94 per cent from 85 percent earlier) announced in August for the city gas distributors (CGD). GAIL's feedstock cost for LPG business increases even as LPG prices are falling further hurting profitability. "Continued availability of 94 per cent of CNG requirement from APM pool by diverting volumes from other segments, access to RIL's KG basin gas via the bidding process and pricing strategy will determine volume trajectory. We reckon growing volume via incremental supplies at Spot prices is earnings dilutive," Jefferies said.

Natural gas price increase negative for GAIL, IGL, marginal beneficiary is RIL: Jefferies

New Delhi, Dec 24 () In a boost to intercity CNG-based public transport, Oil Minister Dharmendra Pradhan on Tuesday unveiled first long-distance CNG buses that can travel up to 1,000 km on a single fill of environment-friendly fuel.
 While the government has been giving a big push for use of gas as a transportation fuel in cities, the use of the fuel that is cheaper than diesel on interstate public transport buses was inhibited by limited capacity.
 As against steel storage cylinders on conventional CNG fitted buses stocking 80-100 kg of CNG, a new composite cylinder can take 225 to 275 kg, he said at an event to unveil five buses with higher capacity bottles.
 The project, executed by Indraprastha Gas Ltd (IGL), will see five buses initially plying between Delhi and Dehradun by the Uttarakhand Transport Corporation (UTC).
 "The CNG fuel in the new composite cylinders is enough for the buses to make a round trip to Dehradun," he said adding similar pilots will soon be launched on buses going to Agra, Chandigarh, and Jaipur from Delhi.
 Shortly, Indian Oil Corporation (IOC) will commercially launch hydrogen-mixed CNG that is more cleaner than compressed natural gas (CNG), he said.
 "Delhi has witnessed a revolution in the shift towards cleaner, gas-based fuels," he said. "IGL was formed in 1998 to supply CNG to automobiles and piped cooking gas to households in the national capital and adjoining cities. Between 1998 and 2014, 340 CNG dispensing stations were set up. And in five years from 2014 alone, 175 new stations have been set up."
 Piped natural gas connections have increased from 5 lakh to 12 lakh, he said. "Over 1,000 PNG connections are being provided daily in the national capital region (NCR)," he said. "Long haul CNG buses originating from Delhi to other locations will further drive this shift towards cleaner gas-based fuels. This will improve overall ease of living of people by mitigating the problem of air pollution, ensuring a cleaner environment and reducing waiting time at CNG stations."
 The introduction of long-range CNG buses fitted with lightweight composite cylinders has the capacity to revolutionise the fight against air pollution across the nation. Even after shifting of the entire public transport fleet in the national capital to CNG as per the mandate of the Supreme Court, interstate buses coming from other cities to Delhi continued to run on diesel.
 Delhi Transport Corporation had stopped all its interstate routes in 2001 due to the unavailability of CNG in the neighbouring states. CNG buses are on Indian roads for more than two decades now but due to on-board storage issues, these buses are having a range of 200-250 km per fill only.
 Mahindra &amp; Mahindra, and Agility Fuel Solutions of USA partnered with IGL for this project, involving introducing the new concept of lightweight Type IV composite cylinders in buses. These cylinders are 70 per cent lighter than the Type-I (all steel) cylinders which are being used in India currently, Pradhan said adding the main advantage of these cylinders is that due to its lighter weight, the number of cylinders can be increased in the vehicle thus creating more storage capacity on-board.
 IGL has procured five Mahindra's Type-IV buses. The CNG buses would be given to UTC on a lease basis after the launch. These will ply on intercity routes from Delhi to Dehradun and will be the first such buses in Uttarakhand. ANZ HRS

Pradhan launches IGL's long-haul CNG buses; to enable intercity travel

New Delhi, Mar 23 () Indraprastha Gas Ltd, the firm that retails CNG to automobiles in the national capital, on Monday shut down nearly two-third of its CNG dispensing outlets in Delhi, Noida and Ghaziabad as most vehicles went off-road due to coronavirus lockdown. While the company will operate 55 outlets spread across the national capital territory to cater to limited demand as part of the rationalisation exercise, its piped natural gas supplies will remain unaffected by the lockdown. However, fresh piped natural gas (PNG) connections will not be issued during the lockdown period. "In view of the lockdown announced in NCT of Delhi, Noida, Greater Noida, Ghaziabad and Gurugram, IGL has decided to rationalise its services through its select CNG stations for public fueling. "A total of 55 CNG stations of IGL shall be in operation during the period of lockdown from March 23, 2020, till March 31, 2020, for public fueling in these areas primarily to meet the requirements of emergency vehicles and essential service vehicles," it said in a statement. IGL has some 155 self-operated CNG stations in the NCT. The CNG dispensing operations at petrol pumps as well as Delhi Transport Corp (DTC) depots will continue unhindered. Of the 55 operational CNG stations, 44 are located in Delhi, five in Ghaziabad, three in Noida, two in Greater Noida and one in Gurugram. "The CNG stations located in DTC depots shall also be operational as per requirements of DTC fleet," the statement said. IGL said the supply of PNG to household kitchens shall remain uninterrupted during the period and area control rooms shall remain functional to attend to any customer complaint received through 24x7 customer care or any other digital mode like e-mail, website or IGL Connect Mobile App. "However, the task of providing new PNG connections would be on hold," it added. ANZ DRR

IGL rationalises CNG operations; shuts 2/3rd outlets as demand drops on corona lockdown

The <a href="http://www.businessinsider.in/searchresult.cms?query=odd+even+rule&amp;sortorder=effectivedate">Odd-Even Part II</a> is reaping benefits for Indraprastha Gas Ltd (IGL) as it clocked the highest CNG sale of 26.7 lakh kg a day this week. 
This means more vehicles are gearing to CNG as CNG-fitted vehicles are exempted from the odd-even rule. 
 
The demand is so high that IGL is setting up one CNG dispensing station every two days, creating a world record. 
 
"We had an average compressed natural gas (CNG) sale of 23.5-24 lakh kg per day in 2015-16. On Monday, which was the first full working day of the odd-even restricted plying rule, we saw sale volumes jump to 26.7 lakh," said IGL Managing Director Narendra Kumar. 
 
"This is the highest ever sale we have ever achieved," he said. "In 2015-16 we had a growth of 3-4 per cent in CNG consumption. This year (April 2016 to March 2017), we expect a growth rate of 8-10 per cent." 
 
Previously peak sale volume was 26.4 lakh kg per day. 
 
READ ALSO: <a href="http://www.businessinsider.in/Odd-even-Uber-suspends-surge-pricing-in-Delhi-after-Arvind-Kejriwals-warning/articleshow/51880518.cms">Odd-even: Uber suspends surge pricing in Delhi after Arvind Kejriwal's warning</a> 
 
Delhi has the highest number of CNG stations in the world and no city has ever expanded its network by more than 30 stations in a year. 
 
IGL, the sole supplier of CNG to automobiles and piped cooking gas to households in the national capital region, is the country's largest CNG retailer. 
 
"What is working in favour of CNG is also price cuts following global slump in energy prices. Rates were last cut by Rs 0.60 per kg and to Rs 36.60 per kg in Delhi on April 1," he said. 
 
(Image: Indiatimes)

Look who has broken all records and is the biggest gainer from Delhi’s odd-even rule

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<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, The Centre's new directive for industrial units in Delhi to switch over to PNG (piped natural gas) owing to the high levels of pollution is a positive development for <keyword id="747943" type="ORGANIZATION" weightage="20" keywordseo="city-gas-distribution">city gas distribution</keyword> (CGD) companies, ICRA said in a note. Accordingly, the Ministry of Environment, Forests and Climate Change on December 22, identified about 1,644 industrial units spread across 50 industrial areas in Delhi to switch over to PNG owing to the high levels of pollution. In addition, <keyword id="111875" type="COMPANY" weightage="20" keywordseo="Delhi-Pollution-Control-Committee">Delhi Pollution Control Committee</keyword> (DPCC) was also directed to inspect and identify the industries using unapproved fuels and to take stringent penal action in case of non-compliance. Besides DPCC, <keyword id="98830" type="DOMAIN" weightage="20" keywordseo="Indraprastha-Gas">Indraprastha Gas</keyword> and Delhi government were also asked to work in close coordination with the industrial units so as to target the completion of infrastructure work and switch over to PNG by January 31, 2021. As per the ICRA note, this directive to compulsorily switch to PNG in the NCR region is a positive development for CGD companies, both from an immediate as well long-term perspective. "The directive by the ministry would provide a boost to the industrial volumes of incumbent IGL," said Prashant Vasisht, Vice-President and Co-Head, Corporate Ratings, ICRA. "This would also necessitate an accelerated expansion of network in the industrial clusters. Additionally, with several cities in northern India featuring among the top 20 most polluted cities globally, such as Jodhpur, Jind, Gurugram, Agra, Ghaziabad, Lucknow and Varanasi, other state pollution control boards may follow suit which would benefit the incumbent CGD entities in these cities." "Accordingly the move by the ministry accelerates the trend of switch to cleaner industrial fuels which began with the ban on use of pet-coke and furnace oil in October 2017 and is only expected to gather pace going forward considering the persistent high levels of pollution across northern India." However, the <keyword id="10498751" type="UNKNOWN" weightage="20" keywordseo="current-high-spot-gas-prices">current high spot gas prices</keyword> may lead to some resistance from the industrial consumers relying on cheaper alternate fuels, the note said. The Asian spot prices of LNG had declined below $2 per mmbtu in May 2020, owing to demand destruction due to outbreak of coronavirus amid increasing global supplies. In recent weeks, spot LNG prices have increased to nearly $10-11 per mmbtu due to increase in oil prices, supply issues in Australia and Malaysia, a colder than expected winter and delays in the Panama Canal. Nevertheless, ICRA expected the supply overhang amid demand inflicted by Covid-19 to keep prices muted over the longer term. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

Mandatory switch to Pipe Natural Gas for Delhi industries credit positive for city gas distribution companies, says ICRA

Mumbai, Jan 6 () Angel investor and venture capitalist Kapil Khandelwal-run early-stage investment fund EquNev Capital said it has pumped in USD 1 million into customer transmigration platform UnoLigo.
 UnoLigo Solutions is founded by Jehangir Abdulla, a Carnegie Mellon computational finance specialist and a Wall Street algo expert.
 "I have invested USD 1 million in series-A funding in UnoLigo," Khandelwal, who has been an early investor in Ola, told on Monday. He also said the investment will get him a board position at UnoLigo.
 Khandelwal said the fund he invested will go towards augmenting UnoLigo's product offering, expand its data science and sales and marketing teams.
 UnoLigo lists IndianOil, Bharat Petroleum, Hindustan Petroleum, Gail, ONGC, IGL and MGL, LIC Mutual Fund, Shopper's Stop, DHL Express and Adani Power, among others, as its key clients which are operating on its platforms. 
 UnoLigo means one language is the key to manage a client's workloads cheaper, better and faster in 22 different languages in the country. It also claims to be the first omni-channel bot-based customer transmigration platform that uses the artificial intelligence and machine learning to automate manual tasks of disparate mediums for customers to communicate with brands.
 Khandelwal was instrumental in starting the Bangalore Angels and has invested and exited several start-ups in the healthcare space and including the leading global hedge fund EquNev-K1t Capital Hedge Fund.
 Abdulla claimed that his platform has demonstrated an 83 per cent reduction in first response time to its clients' customers in 22 different languages with a 50 per cent reduction in manpower and human intervention. BEN HRS

UnoLigo raises USD 1 million from EquNev Capital

<ul><li>At 7:49 am, the SGX Nifty was trading 0.98% higher, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global market, the Indian stock market is likely to open higher. At 7:49 am, the SGX Nifty was trading up 0.98%, indicating a green start for Nifty50. The US stocks also ended in the green on Wednesday on the back of further stimulus hopes. The Dow Jones Industrial Average closed 1.20% higher; whereas the S&amp;P 500 was down 28 points on Wednesday. These are the stocks to watch out for during the trading session on October 1: Reliance Industries (RIL) Mukesh Ambani’s owned Reliance Retail Ventures Limited has<a href="https://www.businessinsider.in/business/news/reliance-retail-raises-another-1875-crore-as-silver-lake-comes-back-with-an-additional-investment/articleshow/78412992.cms"> raised ₹1,875 crore </a>from Silver Lake co-investors. The shares of RIL ended 0.49% lower yesterday Oil and Natural Gas Corp, GAIL India, Oil India and other natural gas stocks The stocks of natural gas companies will be in focus today as the Indian government slashed the rate by 25% to $1.79 for the period of October 2020 to March 2021. This is the price at which most of the natural gas produced in India is sold. The shares of Oil and Natural Gas Corp and GAIL Limited ended 2% lower yesterday, whereas Oil India was up nearly 2%. Also watch out for IGL, MGL and Gujarat Gas. Inox Leisure and PVR Limited As part of the unlock 5.0 guidelines, the Ministry of Home Affairs (MHA) has allowed reopening of cinema halls from October 15. The stock of Inox Leisure and PVR Limited will be in focus today during the trade. The shares of Inox Leisure and PVR LImited ended 2% higher yesterday. Lupin The drug major Lupin launched Lapatinib tablets, used in the treatment of advanced or metastatic breast cancer, in the US market. The company has launched Lapatinib tablets in the strength of 250 mg after its alliance partner Natco Pharma received final approval for its abbreviated new drug application (ANDA) from the United States Food and Drug Administration (USFDA), it said in a statement. The shares of Lupin ended 0.8% higher yesterday. Sanofi India Sanofi India on Wednesday launched a booster vaccine for preschoolers to protect against four major diseases - diphtheria, pertussis, tetanus and polio. “Booster vaccines are designed to boost the immunity acquired during prior vaccination,” the company said. The shares of Sanofi India ended 1.4% higher yesterday. Dhanlaxmi Bank Shareholders of Dhanlaxmi Bank ousted chief Sunil Gurbaxani, little over seven months after he assumed charge of the lender. This came a day after the Reserve Bank of India appointed its General Manager D K Kashyap on the board of the bank for two years. The shares of Dhanlaxmi Bank ended 1% lower yesterday. Punjab National Bank The state-run public sector bank Punjab National Bank (PNB) declared its ₹1,203.26 crore exposure to Sintex Industries as a fraud. The shares of Punjab National Bank ended 2% lower yesterday. HDFC Limited The National Housing Bank imposed a monetary penalty of ₹1.5 lakh on HDFC Limited for non-compliance of the housing finance companies directions. The shares of HDFC Limited ended 1.16% higher yesterday. Bank of Baroda The state-run Bank of Baroda has dissolved its wholly-owned arm BOB (UK) in the United Kingdom with effect from September 22. The shares of Bank of Baroda ended 0.85% lower yesterday. Auto stocks in focus today Watch out for the likes of Maruti, Tata Motors and other listed auto stocks as they report their monthly sales for September. The <a href="https://www.businessinsider.in/business/auto/news/cars-and-tractor-sales-likely-to-remain-healthy-but-commercial-vehicles-may-feel-the-pain-in-september-month-sale/articleshow/78407001.cms">estimates from brokerages</a> showed that passenger vehicles and farm equipment would report strong growth. However, the situation for the commercial vehicle segment will continue to remain grim. Mazagon Dock, Likhitha Infrastructure and UTI AMC The IPO subscription for Mazagon Dock, Likhitha Infrastructure and UTI AMC will close today. CAMS, Chemcon <a href="https://www.businessinsider.in/stock-market/news/cams-ipo-shares-are-trading-at-over-25-premium-in-the-grey-market/articleshow/78400317.cms">CAMS </a>and <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-for-chemcon-ipo-share-price-trading-at-over-111/articleshow/78404223.cms">Chemcon shares </a>are slated to hit the bourses today. The grey market premium for the companies suggests a bumper listing ahead. SEE ALSO: <a href="https://www.businessinsider.in/india/news/from-income-tax-to-credit-card-payment-here-are-all-the-rules-changing-from-october-1/articleshow/78418580.cms" data-type="tilCustomLink">From income tax to credit card payment - here are all the rules changing from October 1</a> <a href="https://www.businessinsider.in/business/auto/news/cars-and-tractor-sales-likely-to-remain-healthy-but-commercial-vehicles-may-feel-the-pain-in-september-month-sale/articleshow/78407001.cms" data-type="tilCustomLink">All eyes on September auto sales — Cars and tractor sales likely to remain healthy but commercial vehicles may feel the pain</a> <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-expected-to-outperform-bajaj-auto-and-tvs-sales-numbers-in-september-two-wheeler-sales/articleshow/78407559.cms?upcache=2" data-type="tilCustomLink">September two-wheeler sales expectations — Hero MotoCorp expected to outperform Bajaj Auto and TVS Motor</a>

Top stocks to watch— RIL, ONGC, HDFC, GAIL, PVR, Oil India, Lupin, PNB, Dhanlaxmi Bank and others

Prime Minister's Office Handout (Reuters)Another day, another reason to bring the Barack Obama and Justin Trudeau "bromance" jokes back on the internet.This time, the photos surfaced after the Canadian prime minister and former American president were seen <a href="http://globalnews.ca/news/3508228/barack-obama-dines-at-local-montreal-eatery-with-justin-trudeau/">having dinner and drinks together</a> at Montreal's Liverpool House restaurant on June 6.Obama came to the Québec metropolis to give a speech on fighting climate change at the Montreal Chamber of Commerce, following current President Donald Trump's announcement he was <a href="http://www.businessinsider.com/trump-paris-agreement-climate-change-2017-6">pulling the US out of the Paris Agreement</a> a week before. The day before, Trudeau <a href="http://www.businessinsider.com/justin-trudeau-kayak-niagara-river-canada-prime-minister-2017-6">kayaked across the Niagara River</a> to celebrate World Environment Day, again expressing his opposition to Trump's position on climate change.While Trudeau did not attend Obama's speech, he later met Obama at the chichi Liverpool House restaurant, where they <a href="http://www.ctvnews.ca/canada/the-bromance-lives-trudeau-and-obama-meet-for-dinner-date-1.3447197">allegedly had</a> steak, <a href="https://www.yelp.com/biz_photos/liverpool-house-montr%C3%A9al-2?select=Tn9NPgQHl940d8Wq5pTeGQ&amp;reviewid=jVS0ryA1yIHrPXgRdFmRag">lobster spaghetti</a>, Kamouraska halibut with morels, oysters, crab, and asparagus.According to Global News, crowds waited over an hour for the two leaders to emerge from the restaurant, and tried to take pictures as they were coming outside. Both Obama and Trudeau later tweeted that they discussed ways to get young leaders involved in their communities, and released a photos of the two inside:As the photos of the two leaders started making the rounds on Twitter and Instagram, many have jumped at the chance to add their witty repartee:Since Trudeau took over as Canada's Prime Minister in 2015, many have used photos of the two leaders to joke about <a href="http://abcnews.go.com/Politics/obama-trudeau-bromantic-moments/story?id=40206461">a budding "bromance"</a> between the two liberals. <h3>NOW WATCH: <a href="http://www.businessinsider.com/things-got-awkward-when-april-ryan-asked-sarah-sanders-where-sean-spicer-was-2017-6">'Where is Sean?': Things got awkward when April Ryan asked Sarah Sanders why Spicer didn't attend the WH briefing</a></h3> Please enable Javascript to watch this video

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Natural gas price increase negative for GAIL, IGL, marginal beneficiary is RIL: Jefferies

IANS

Pradhan launches IGL's long-haul CNG buses; to enable intercity travel

PTI

IGL rationalises CNG operations; shuts 2/3rd outlets as demand drops on corona lockdown

PTI

Look who has broken all records and is the biggest gainer from Delhi’s odd-even rule

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Mandatory switch to Pipe Natural Gas for Delhi industries credit positive for city gas distribution companies, says ICRA

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UnoLigo raises USD 1 million from EquNev Capital

PTI

Top stocks to watch— RIL, ONGC, HDFC, GAIL, PVR, Oil India, Lupin, PNB, Dhanlaxmi Bank and others

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Photos from Obama and Trudeau's unexpected Montreal dinner fire up the internet

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