Centre increases cheap gas supply to avoid CNG price hike in Delhi ahead of elections - PRESS AI WORLD
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Centre increases cheap gas supply to avoid CNG price hike in Delhi ahead of elections

share-iconThursday, January 09 comment-icon1 week ago 8 views
News sources:
indiatimesINDIATIMES
Centre increases cheap gas supply to avoid CNG price hike in Delhi ahead of elections

Credited from: INDIATIMES

  • Supply of cheap gas from legacy fields will increase by 31%, helping to avoid CNG price hikes in Delhi.
  • Indraprastha Gas Ltd (IGL) will benefit from the increase, raising its share of legacy gas from 37% to 51%.
  • This move comes as a response to earlier reductions in legacy gas volumes affecting profit margins.
  • The increase is timed before the upcoming assembly elections, avoiding price hikes that could impact voters.
  • IGL's stock closed 3% higher, reflecting positive market reaction to the decision.

For the full article, visit: original source.

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