Answer Mahanagar Gas Gets 26% Boost in Domestic Gas Allocation

Mahanagar Gas Limited (MGL) has received a significant increase in its domestic gas allocation, with GAIL India Ltd announcing a 26% hike effective January 16, 2025. This boost comes after previous cuts in October and November 2024, which had impacted the company's profitability. The increased allocation is expected to stabilize retail prices for end consumers and potentially alleviate the need for further CNG price hikes. MGL's shares closed 1.45% higher at ₹1,270.65 on the National Stock Exchange following the announcement.

Source: NDTV Profit