Commodities
IGL Stock Surges 2.54% on CNG Price Hike Amid Global LNG Price Volatility
Indraprastha Gas (IGL) saw its stock price rise by 2.54% to Rs 151.35 following a CNG price hike.
The company increased the price of compressed natural gas (CNG) by Rs 3.89 per kg, making it Rs 86.98 per kg in Delhi.
IGL cited global LNG prices nearly doubling from pre-crisis levels due to the re-escalation of the West Asia crisis and the approaching winter season in Europe as reasons for the price increase.
The company emphasized that despite the hike, CNG remains a cost-effective option for consumers in Delhi NCR.