LNG Shock Hits City Gas Stocks; MGL Slides Over 8%

Shares of Mahanagar Gas Limited (

) dropped more than 8% on March 4, 2026, amid a broad sell-off in LNG-linked counters. The stock featured among the top losers, falling about 8.7% to around ₹1,100. The weakness follows a sharp surge in global LNG prices—now at their highest since 2023—driven by supply disruptions in the Middle East, including a reported shutdown in Qatar. The price shock weighed on LNG-dependent companies across the space. Peer stocks such as Petronet LNG (-12%), GAIL (India) Limited ( -6.29%), and Indraprastha Gas Limited (-5.27%) also witnessed notable declines. This update is purely informational. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.