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Sep 10, 2013, 11.15 AM IST | Source: Moneycontrol.com

Indraprastha Gas surges 5% on CNG price hike in Delhi

CNG has been increased from Rs 41.90 to Rs 45.60 per kg. Also, the price of piped cooking gas, called PNG, for households has been hiked from Rs 24.50 per standard cubic meters to Rs 27.50 per scm.

Moneycontrol Bureau

Indraprastha Gas  (IGL) surged 5 percent in early trade on Tuesday as price of Compressed Natural Gas (CNG) was hiked by a steep Rs 3.70 per kg in Delhi from September 7 midnight.

CNG has been increased from Rs 41.90 to Rs 45.60 per kg. Also, the price of piped cooking gas, called PNG, for households has been hiked from Rs 24.50 per standard cubic meters to Rs 27.50 per scm.

CNG price was last hiked on June 25 when rates went up by Rs 2 per kg - from Rs 39.90 to Rs 41.90 per kg.

Piped natural gas (PNG) prices too were hiked on that day from Rs 23.50 per standard cubic metre to Rs 24.50 per scm for consumption of up to 30 scm in two months.

The hike follows last week's steep increase in petrol price by Rs 2.35 per litre and diesel rates being raised by 50 paisa per litre as fall in rupee made imports costlier.

IGL the firm that sells CNG to automobiles and piped cooking gas (PNG) to households in the national capital, said rates in Delhi, Noida, Greater Noida and Ghaziabad were being hiked "due to recent weakening of rupee vis-a-vis dollar."

At 11:13 hrs the stock was quoting at Rs 266.00, up Rs 4.40, or 1.68 percen on the BSE.

(With inputs from PTI)

READ MORE ON  Indraprastha Gas, CNG, PNG, petrol
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