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IGL Board to Consider Bonus Shares Amid Share Price Decline

IGL's board will meet on December 10 to consider a bonus share issue for equity shareholders, following a significant drop in share prices due to reduced APM supply. The company recently declared an interim dividend of Rs 5 per share, while both IGL and MGL shares have fallen over a third from their yearly highs after the Centre's decision to cut gas allocations to city distributors.

Mahanagar Gas raises CNG price to 77 per kg amid rising costs

Mahanagar Gas has increased the price of CNG by Rs 2/kg to Rs 77/kg, effective November 22, in response to rising input costs. This adjustment follows a reduction in APM gas supply by Gail India to city gas distributors, impacting profitability. Despite a rise in shares on the announcement day, MGL's stock is down 4% year-to-date.

Adani Total Gas announces 13 percent reduction in gas supply from GAIL

Adani Total Gas has announced a 13% reduction in gas supply from GAIL, effective November 16, 2024, following a previous 16% cut in October. This reduction, impacting the entire City Gas Distribution industry, is expected to adversely affect the company's profitability. Adani Total is exploring adjustments to retail prices to mitigate the impact while ensuring uninterrupted gas supply to consumers.

quarterly earnings reports reveal mixed results across various sectors

The Q2 earnings season for FY25 is underway, with major companies like Apollo Hospitals, Kansai Nerolac Paints, and Trident set to release their results. While many firms have reported, the overall corporate earnings scorecard has been weak, with only 62% meeting or exceeding profit expectations, particularly in the consumption sector. Notably, GAIL's earnings missed expectations due to lower gas trading margins, while Power Grid's profit remained flat year-on-year.

GAIL India reports strong earnings as analysts predict significant growth potential

GAIL India’s stock surged 60% over the past year, outperforming the Nifty's 23% rise, following positive Q2 earnings. Morgan Stanley maintains an 'Overweight' rating with a target of Rs 258, citing strong RoE and growth catalysts, while Jefferies upgraded to 'Buy' with a target of Rs 240, highlighting a 7% YoY EBITDA increase and expanding market share from new pipeline projects.

GAIL reports 10 percent rise in Q2 net profit to 2690 crore

GAIL (India) Ltd reported a 10% increase in consolidated net profit for Q2 FY 2024-25, reaching Rs 2,690 crore, up from Rs 2,442 crore in the same period last year. However, this marks a 15.5% decline from Rs 3,183 crore in the previous quarter. Revenue from operations rose slightly to Rs 33,981 crore, while EBIT from the natural gas transmission segment increased to Rs 1,402 crore compared to Rs 1,294 crore a year ago.

companies report mixed q2 results with notable profit declines and growth

Several companies, including Titan Company, GAIL, Mankind Pharma, and Dr Reddy's, are set to release their Q2 earnings today, following reports from major firms like TCS, Infosys, and HCL Technologies. GAIL reported a profit increase of 10.1% to Rs 2,689.67 crore, while Saregama India saw a profit drop of 6.7% to Rs 44.90 crore despite a revenue rise of 40.3%. Gland Pharma's profit fell by 15.7% to Rs 163.53 crore, with revenue up 2.4% to Rs 1,405.83 crore.
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