MGL

City gas distribution (CGD) companies took a beating in early trade on April 16, after the Centre decided to cut its priority gas allocation (APM) to

, Indraprastha Gas and Adani Total Gas. APM gas is sold at cheaper price to the CGD players to ensure essential services such as domestic piped natural gas (PNG) and CNG receive gas at lower costs. The Administered Price Mechanism gas allocation was trimmed between 15 to 20 percent for the companies, which reduced their total allocation to around 40 percent, from the current 51 percent.