indraprastha gas share price: New pricing formula to help city gas distributors expand margins
Synopsis
The Union government has provisionally kept the domestic gas prices unchanged at $8.58 per million British thermal units (mmBtu) while it is considering a potential change in the pricing formula. The current formula is based on the trailing 12-month average prices of the global gas benchmarks of the US, Russia, Europe and Canada. Based on this, the domestic gas price could be closer to $11 per mmBtu.
ET Intelligence Group: The stocks of city gas distribution (CGD) companies such as Indraprastha Gas (IGL) and Mahanagar Gas (MGL) fell by 4-5% in the morning session on Monday after the government postponed the customary bi-annual price reset slated for April.Since the deferment is of a technical nature, investors may find the current stock prices of CGD companies attractive given the expectations of margin-led growth prospects in the coming
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