Business

IGL, MGL, Adani Total Gas shares rally up to 6% as govt boosts domestic PNG push

By Sohail Khan 19 August 2026, 12:01 pm

Benchmarks
Nifty24,076.75-78.16

FEATURED FUNDS★★★★★

Motilal Oswal Midcap Fund Direct-Growth

5Y Return
23.26 %

Invest Now

Enter search text:

Business News›Markets›Stocks›News›IGL, MGL, Adani Total Gas shares rally up to 6% as govt boosts domestic PNG push

Read Today's Paper

Synopsis

City gas distributor stocks rallied after the government approved an incentive scheme to accelerate domestic PNG connections from September 1. Mahanagar Gas, IGL, Adani Total Gas rose as the scheme aims to expand active piped gas connections and promote cleaner, safer and affordable cooking fuel.

IGL, MGL, Adani Total Gas shares rally up to 6% as govt boosts domestic PNG push<br> — City gas distributor stocks rallied after the government approved an incentive scheme to accelerate domestic PNG connections.

Shares of city gas distributors jumped by up to 6% on Wednesday after the government approved an incentive scheme to promote domestic PNG connections, which it called a major initiative to bring clean, safe and affordable piped cooking gas to households across the country.

Mahanagar Gas (MGL) shares jumped nearly 6% to trade at Rs 1,173 apiece on Wednesday morning, while those of Indraprastha Gas (IGL) and Adani Total Gas jumped over 5% each despite an overall muted market sentiment.

New scheme for promotion of domestic PNG connections

The Ministry of Petroleum & Natural Gas on Tuesday announced that the scheme, which will take effect from September 1 onwards, is designed to fast-track the expansion of active PNG connections ensuring that more families can start using piped natural gas in their kitchens at the earliest.

Under the scheme, the eligible city gas distribution (CGD) entities will be allocated an additional 200 SCM of domestically-produced, lower-priced (APM) gas for every incremental billed domestic PNG connection achieved during the period, over and above the threshold Level determined for the respective geographical area.

The new scheme will be implemented over two trachea spanning six months, and the additional gas allocation will substitute the costlier LNG that CGD entities currently procure for their CNG segment, thereby lowering their overall gas-sourcing costs, the government said in its press release.

Also read | Government offers cheaper domestic gas to city gas distributors to boost PNG connections

How will city gas distributors benefit?

The Ministry added that the subsequent cost savings are expected to shorten the payback period for capital expenditure incurred on D-PNG connections from around 10 years to approximately 3 years, which in turn would give CGD entities a strong financial incentive to expand household PNG connectivity more rapidly, bringing the benefits of clean, safe and affordable piped cooking gas to a larger number of Indian households in the months ahead.

At present, there are 1.74 crore domestic PNG connections across the country, according to the government, which said that the new scheme directly incentivises the city gas distribution (CGD) companies to actively convert unbilled connections into working gas connections, and expand the PNG network to new areas.

In its press release, the government highlighted that PNG offers households a safer, cleaner and more convenient alternative to LPG cylinders and traditional cooking fuels. “This Scheme builds on a series of steps the Government has taken over the past few months to accelerate PNG expansion and make the transition to clean cooking fuel easier for households,” it added.

Also read | Mahanagar Gas eyes 1 million new PNG connections in FY27, capex raised

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The )

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our ETMarkets WhatsApp channel)

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

…moreless

(You can now subscribe to our ETMarkets WhatsApp channel)

Read More News on
mahanagar gasIGLMGLAdani Total Gas sharesIGL sharesMGL sharesAdani Total GasPNGmarkets newsadani total gas

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

…moreless

Enter search text:

BrowseCompanies:
ABCDEFGHIJKLMNOPQRSTUVWXYZ
123456789

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with in-depth insights that matter

Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

The problem with lab grown diamonds
Why a falling rupee is a better option for the economy

A list of top 20 momentum stocks that have delivered massive returns in one year