<ul><li>Shares of Mahanagar Gas Ltd. and Indraprastha Gas Ltd. fell after the government reduced their allocation of cheaper domestically produced Administrative Price Mechanism natural gas.</li><li>Mahanagar Gas shares fell over 6% and Indraprastha Gas shares were down nearly 4%.</li><li>Other gas companies like GAIL (India) Ltd., Gujarat State Petronet Ltd. and Gujarat Gas Ltd. also saw their stocks fall over 1%.</li><li>The reduction in gas allocation is in line with policy guidelines and could increase procurement costs and put pressure on margins for city gas distribution companies.</li></ul>

Mahanagar, Indraprastha Gas Shares Decline After Changes In Domestic Gas Allocation

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