Author name: Archana Chettiar

I’m Archana R. Chettiar, an experienced content creator with
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City Gas Stocks Hit Hard: MGL, IGL Fall 20% on Fresh APM Gas Allocation Cuts
News, Business - Blog Category

City Gas Stocks Hit Hard: MGL, IGL Fall 20% on Fresh APM Gas Allocation Cuts

Have you been tracking city gas distribution (CGD) stocks? If so, you might have noticed something alarming on November 18, 2024. Shares of key players like Indraprastha Gas Limited (IGL) and Mahanagar Gas Limited (MGL) plummeted by up to 20%, marking one of their sharpest declines in recent times. This sharp drop follows a decision by the Indian government to cut the allocation of Administered Price Mechanism (APM) gas to CGDs for the second consecutive month.