Mahanagar Gas share price surged by more than 5% in early trading on Tuesday following news of price hikes for Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Mumbai. The stock opened at Rs 1,752.20, higher than the previous closing price of Rs 1,669, and climbed to Rs 1,762.25, marking gains of over 5%.
Mahanagar Gas, a distributor of natural gas, has raised the price of CNG by Rs 1.50 per kg, bringing the total cost, including taxes, to Rs 75 per kg. Additionally, the price of domestic PNG has increased by Rs 1, now costing Rs 48 per standard cubic meter (SCM) with taxes. These new rates took effect from midnight on July 9th, according to news reports.
Also Read
Jupiter Wagons shares plunge 3% despite QIP launch- Find out why?
The deci…
Read moreIndia’s leading stock exchanges, NSE and BSE have reiterated that their operations have remained unaffected by the global outage of Microsoft systems, despite widespread disruptions reported by users worldwide. Come from Sports betting site VPbet
A widespread Microsoft outage caused disruptions across global flights, banks, media outlets, and businesses. The widespread impact included users encountering the Blue Screen of Death error messages. The outage, reportedly caused by a new update from CrowdStrike, a cybersecurity software firm, particularly affected Windows-based desktops and laptops.
The disruptions persisted even after Microsoft acknowledged and began addressing issues affec…
Read moreBy Bhavik Patel
The geopolitical risk premium returned to oil markets this week after Israel rejected a ceasefire offer and bombed Rafah. However upside is still capped due to weak demand and bearish calls from US Energy Information Administration, saying that US crude output is unlikely to surpass the current level of 13.3 million b/d until early 2025.
Last week Brent crude breached the $80 per barrel mark, while WTI climbed above $75, a notable movement for the first time in February. The market was influenced by various factors, including escalating Middle East tensions, unexpected trends in U.S. fuel stocks, and developments in Russian oil exports.
Also Read
India bond yields rise as traders cautious before US inflation data
Read moreThe past week was a roller coaster for participants as markets swung sharply in both directions before closing with strong gains. After a positive start, a sharp decline on Tuesday following the election results wiped out the gains of the last five months.
However, conditions improved in subsequent sessions, allowing the benchmark to recover all losses and end near the week’s high. The Sensex hit a new record high, gaining 3.7%, while the Nifty rose by 3.4%, just missing its record mark.
Also Read
Mahangar Gas rises 6.5% as management iterated growth guidance; Brokerages maintain rating and target pric…
Read more