City gas cos' stocks in the red as govt cuts APM quotas
Tue, Nov 19, 2024 12:16 PM

City gas cos' stocks in the red as govt cuts APM quotas

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Mumbai: Shares of city gas distributors Indraprastha Gas (IGL) and Mahanagar Gas (MGL) were among the top losers in Monday's trading after the government cut their gas allocations under the cheaper APM (administered price mechanism) over the weekend. The move triggered a spate of rating downgrades by analysts, who are mostly advising investors to sell the stocks for now.

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