IGL, MGL to Adani Total Gas: City gas distributor stocks rise up to 4%; here's why
New Delhi, Aug. 19 -- Shares of major gas distribution companies, including Indraprastha Gas (IGL), Mahanagar Gas (MGL) and Adani Total Gas, surged up to 4% in Wednesday's trading session, despite weak sentiments on Dalal Street
The rally in the stocks came in after the government cleared an incentive scheme to boost domestic piped natural gas (PNG) connections.
IGL share price gained the most, surged as much as 4.30% on NSE. Meanwhile, MGL share price rallied 3.74%. Adani Total Gas share price also rose 2.36% on 19 August.
On the other hand, Indian benchmark indices opened on a subdued note as rising commodity prices weighed on market sentiment. The Sensex began marginally lower at 77,218.05, compared with its previous close of 77,235...
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