Indraprastha Gas, Mahanagar Gas fall up 15% after APM gas allocation reduced for second straight month

2 hours ago 1

Shares of Indraprastha Gas (IGL) and Mahanagar Gas (MGL) slumped successful Monday's commercialized (November 18) aft the administered state pricing (APM) state allocation has been reduced to these companies for the 2nd consecutive month.

As per Zee Business probe inputs, GAIL made cuts of up to 13-20 per cent, the cuts came into effect from November 16. ONGC had chopped APM state allocation by 20 per cent on October 16.

Company                    % Reduction successful APM
IGL                                                 20%
MGL                                               18%
Adani Total gas                          13%

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