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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, Mar 25 () With the unprecedented nationwide lockdown shutting down factories, ONGC has been forced to cut natural gas production by up to one-tenth as customers refused to take supplies because of business disruption.Oil and Natural Gas Corp (ONGC), which produced 64.5 million standard cubic meters of gas per day till earlier this week, has reduced the flow to 59.8 mmscmd on Wednesday, and will further cut by another 3 mmscmd on Thursday, sources aware of the development said.The company has received requests from customers for reduction in gas supplies of around 7.7 mmscmd.Besides this, another 4-5 mmscmd supply reduction requests have been lodged with the gas transporter GAIL.The sources said these customers are largely small companies whose business has been completely shut because of the lockdown, and city gas distributors who have seen volumes vanish after CNG vehicles went off-road.In the most far-reaching measure undertaken by any government to check the spread of coronavirus pandemic, Prime Minister Narendra Modi on Tuesday evening announced a three-week-long nationwide lockdown. The lockdown meant offices and factories, barring those involved in essential supplies business, are shut and people asked to stay at home.So far, 562 persons are reported to have infected with the virus and as many as 9 killed.Some states like the national capital Delhi had last week declared lockdown and now this has been extended nationwide.While factories across sectors have been shut down following the lockdowns, the ones seeking stoppage or reduction in gas intake are mostly in the Gujarat region.Out of the 7.7 mmscmd gas reduction request received by ONGC, 6 mmscmd has come from the Hazira region, the sources said, adding the remaining reduction was sought by factories in Andhra Pradesh and adjoining areas.Besides, GAIL has been piled with requests for cut in supplies for another 4-5 mmscmd along its Hazira-Vijaipur-Jagdishpur pipeline.It is the principal transporter of natural gas in India and also ships gas produced by ONGC.GAIL would accommodate 4-5 mmscmd of reduction by cutting the use of imported liquefied natural gas (LNG) and fuel sourced from fields other than of ONGC, they said.Gas is used as a fuel in a variety of industries - from glass to fertilizer plants. Large factories such as fertilizer plants continue to use gas as they have been classified in essential commodities.The demand for gas has also been hit by all vehicles, barring ones used by law enforcement agencies and that used in maintaining essential supplies, going off-road. This meant vehicles run on compressed natural gas (CNG) too have gone off-road in cities ranging from Delhi to Mumbai to Ahmedabad.Lesser CNG vehicles meant lesser need of gas and so city gas distributors too have sought a reduction in the volumes they used to take from GAIL/ONGC, the sources said.Indraprastha Gas Ltd, the company that retails CNG to automobiles and piped cooking gas to households in the national capital and adjoining cities, has already shut two-third of its CNG dispensing pumps in view of the demand constraints.The sources said more factories and businesses are likely to be impacted by the shutdown in the coming days. ANZ BAL

ONGC gas output drops by one-tenth as shut factories refuse supplies

New Delhi, Mar 12 () Shares of oil and gas companies declined up to 15 per cent on Thursday with BPCL taking the biggest hit, as oil prices dropped nearly 6 per cent in global markets. Amongst the BSE sectoral indices, BSE Oil and Gas index emerged as the biggest loser by shedding 1,118.43 points or 9.82 per cent to settle at 10,265.63.Bharat Petroleum Corporation Ltd dived 14.71 per cent to Rs 345.15 on BSE. Hindustan Petroleum Corporation closed at Rs 183.85, plunging 12.83 per cent. Similarly, Oil and Natural Gas Corporation Ltd settled at Rs 62.6, declining 12.63 per cent. Among other losers, Gail India Ltd dived 11.62 per cent to Rs 79.9, Indian Oil Corporation Ltd dropped 9.58 per cent to close at Rs 87.75. Besides, Reliance Industries closed at Rs 1,061.6, losing 7.95 per cent. Indraprastha Gas Ltd fell 6.46 per cent to Rs 389.35.Castrol India declined by 5.49 per cent to Rs 128.3 and Gujarat State Petronet Ltd ended the session at Rs 208.95, losing 4.57 per cent over the previous close. Shares of Petronet LNG Ltd lost 2.69 per cent to close at Rs 215.3. Meanwhile, the BSE Sensex plunged over 2,919 points to settle at 32,778.14 as the coronavirus pandemic wreaked havoc on global markets."The fall in global crude prices is bound to impact gross refining margin for most oil refining players. Starting from taking inventory hit, to revenue hit, to margin hit (loss of operating leverage), the overall Indian basket will take some time to align to global prices. Until then oil companies may take some beat down," Vinay Pandit, head of institutional equities at IndiaNivesh said. On Thursday, oil prices plunged about six per cent after US President Donald Trump announced a 30-day ban on all travel from Europe to the United States over the coronavirus pandemic.West Texas Intermediate slipped 6.2 per cent to USD 31 a barrel while Brent crude was off 5.8 per cent at under USD 34 a barrel.Crude markets have been in turmoil since the start of the week, when they suffered their biggest one-day drop in a generation after Riyadh slashed prices following a row with Moscow about output cuts. SRS MRMR

Oil & gas stocks drop up to 15 pc as crude dives; BPCL biggest loser

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

<ul><li>At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> 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>Amid mixed cues from the global peers, Indian stock-market indices are likely to open on a muted note on Thursday. At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50. However, the Dow Jones Industrial Average rose 0.3%, to 28,331.92 on Wednesday, on the back of a strong rally in tech-related shares. These are the stocks to watch out for during the trading session on Thursday: ICICI Bank ICICI Bank on Wednesday said it would sell up to 2% of its holding in ICICI Securities through an open market transaction. “The Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value ₹5 each of ICICI Securities Limited (company), representing up to 2% of its issued and paid-up equity share capital, through an open market sale,” the bank said in a regulatory filing. The shares of ICICI Bank ended nearly a percent higher on Wednesday. Oberoi Realty, Godrej Properties and other real estate stocks The Maharashtra government has decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021 to March 31 2021. The shares of Oberoi Realty ended nearly 2% lower on Wednesday, whereas Godrej Properties was down nearly a percent. Hindustan Aeronautics Limited The Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). “The Defence Ministry has notified the stock exchanges in the evening on selling 15% of its equity stake (5.01-crore shares) in the company at ₹1,001 per share of ₹10 face value through OFS,” a company official <a href="https://www.sify.com/finance/govt-to-sell-15-stake-in-hal-through-sale-offer-news-news-ui0skQhedbahj.html">told IANS</a>. The shares of HAL ended nearly a percent higher on Wednesday. Mahindra and Mahindra Limited Automobile major Mahindra &amp; Mahindra and e-mobility technology company REE Automotive has entered into a memorandum of understanding (MoU) to explore development and manufacturing of commercial electric vehicles for global markets. “The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be scaled further to support additional volume in the global as well as Indian market,” the company said. The shares of M&amp;M ended over 1% higher on Wednesday. Infosys Infosys has launched an AI-driven solution that will automate help desk operations, allow customers to eliminate manual resolution and build near-touchless contact centres in the Covid-19 times. Infosys partnered Blue Prism, a leading Robotic Process Automation (RPA) provider and a strategic partner, to build the ‘Cognitive Email Workbench’ solution. The shares of Infosys ended nearly 2% higher on Wednesday. Rossari Biotech SBI Mutual fund increased its stake in Rossari Biotech from 4.80% to 5.25%. The shares of Rossari Biotech ended nearly 2% lower on Wednesday. Allcargo Logistics The board of directors of Allcargo Logistics will meet today to consider and approve the voluntary delisting of shares The shares of Allcargo Logistics ended nearly 2% lower on Wednesday. Jindal Stainless Jindal Stainless’ board approved raising up to ₹162.8 crore through issue of convertible equity warrants. “The board of directors of Jindal Stainless Ltd at its meeting held today...considered and approved raising funds through issue of convertible equity warrants for an amount up to ₹162.8 crore on preferential basis,” the company said in a filing to the stock exchanges. The shares of Jindal Stainless ended nearly 3% higher on Wednesday. ITC, VST Industries and Godfrey Phillips For providing benefits to farmers, a parliamentary panel has recommended permitting regulated foreign direct investment (FDI) in the tobacco sector and establishing export-only tobacco farms to boost outward shipments. The shares of ITC ended nearly a percent lower on Wednesday. Indraprastha Gas The company reported 88% fall in its net profit to Rs 35.2 crore for the first quarter ended June 30. The company's total revenue declined 58.9% to Rs 638 crore. The shares of Indraprastha Gas ended flat on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/science/space/news/mars-spotted-first-time-by-uae-hope-probe-on-its-maiden-voyage-in-space/articleshow/77775267.cms" data-type="tilCustomLink"> UAE’s Hope probe spots Mars for the very first time on its maiden voyage through space</a> <a href="https://www.businessinsider.in/tech/news/apples-new-iphone-operating-system-is-making-it-harder-for-facebook-to-track-people-and-facebook-warns-it-will-decimate-part-of-its-business/articleshow/77769482.cms" data-type="tilCustomLink">Apple's new iPhone operating system is making it harder for Facebook to track people, and Facebook says it will decimate part of its business</a>

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Here is a list of top 25 stocks that qualify for ‘Ten Baggers’, according to Ambit

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

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)

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

IANS

ONGC gas output drops by one-tenth as shut factories refuse supplies

PTI

Oil & gas stocks drop up to 15 pc as crude dives; BPCL biggest loser

PTI

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

PTI

Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Navdeep Yadav

Here is a list of top 25 stocks that qualify for ‘Ten Baggers’, according to Ambit

Navdeep Yadav

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

PTI

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

BI India Bureau

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You Searched For "indraprastha gas ltd" and got 8 results

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

IANS

ONGC gas output drops by one-tenth as shut factories refuse supplies

PTI

Oil & gas stocks drop up to 15 pc as crude dives; BPCL biggest loser

PTI

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

PTI

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Navdeep Yadav

Here is a list of top 25 stocks that qualify for ‘Ten Baggers’, according to Ambit

Navdeep Yadav

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

PTI

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

BI India Bureau

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Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more