New Gas Tariff Boosts IGL, MGL Shares; Prices to Fall for CNG, Domestic PNG

• IGL and MGL shares surged over 4.5% after PNGRB notified a new Unified Natural Gas tariff structure, effective January 2026.
• The new policy reduces tariff zones from three to two and standardizes Zone-1 tariffs for CNG and domestic PNG consumers pan-India.
• CNG prices are expected to fall by ₹1.25-₹2.5 per kg, and domestic PNG prices by ₹0.9-₹1.8 per SCM.
• New transportation tariffs will be ₹54 per MMBtu for up to 300 kilometers and ₹102.86 per MMBtu beyond 300 kilometers.
• Nomura upgraded IGL to 'buy' with a higher price target, citing attractive valuations and anticipated margin support from lower taxes and transmission tariffs.

Why It Matters: New unified gas tariff structure by PNGRB drives IGL, MGL share surge, promising lower CNG/PNG prices.