Expansion10 Jan 2025, 01:29 am
Mahanagar Gas Ltd. to Experience 26% Increase in Domestic Gas Allocation from 2025
AI Summary
Pursuant to Regulation 30(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mahanagar Gas Limited (MGL) has received communication from GAIL (India) Limited, the nodal agency for domestic gas allocation, that the domestic gas at APM price to MGL will be increased by 26% with effect from 16th January 2025. This increase will raise the allocation for CNG from 37% to 51%, which is expected to positively impact the profitability of the Company.
Key Highlights
- Mahanagar Gas Ltd. to experience a 26% increase in domestic gas allocation from 2025
- The increase in allocation is due to a 26% rise in the domestic gas price at APM
- This increase will boost the allocation for CNG from 37% to 51%
- The rise in allocation is expected to positively impact the profitability of the Company
- The disclosure is in accordance with Regulation 30(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015