The Indian government's decision to decrease domestic gas allocation has led to a 21% reduction in supply for IGL and 20% for MGL, causing a potential increase in the cost of natural gas for consumers. This move has been made to bridge the gap between the lower APM gas price and higher LNG prices, affecting the profitability of the gas distribution companies. However, to minimize the impact, the CGD firms aim to pass on the increased cost to their consumers. This decision has already caused a decline in the share prices of IGL and MGL.
Rachael Gill-Davis, known for her role as Gail Loman in Emmerdale, has been cut from the Netflix series KAOS and will not appear in the show's release today. Despite her disappointment, she encourages fans to still watch the series, sharing her experience of getting to work on it and even trying on Jennifer Saunders' shoe. While she may be a little bitter about her scenes being cut, she assures that KAOS will still be "mega" and "insane".
The Indian stock market continues to soar, with the Nifty 50 and Sensex reaching record highs as investors anticipate the results of the upcoming Lok Sabha polls and an influx of foreign funds. The rupee also shows signs of strengthening against the US dollar. In other business news, Torrent Pharma is set to release its financial results for the last quarter of FY24, with analysts predicting a strong performance. Lastly, market experts recommend purchasing Man Infraconstruction, ASK Automotive, and GAIL shares for short-term targets. Stay updated on all the latest business, political, tech, and auto news by following us on various social media platforms.
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Despite a 10% increase in GAIL's stock this year, foreign brokerage Jefferies has maintained their 'underperform' rating on the natural gas company. They have also set a target price of Rs 150, indicating a downside of over 17% from the current levels. The recent announcement of unchanged natural gas tariffs by PNGRB has also been cited as a potential risk for the company. On the other hand, GAIL plans to commission its first green hydrogen project in India this month, in line with the country's target of reaching 5 million tons of annual green hydrogen production capacity by 2030.
The Emmy Award-winning cooking competition, 'Top Chef', premiered its 21st season in Milwaukee on Wednesday night. Over 500 people gathered at Discovery World to celebrate the new season, including judges Kristen Kish, Gail Simmons, and Tom Colicchio. For contestant Dan Jacobs, co-owner of Milwaukee's DanDan and EsterEv, the show's return to his hometown is a special opportunity to showcase the city's culinary scene on a national stage. With the spotlight on Milwaukee, not just through events like the RNC and Bucks, but also through the show's highlighting of iconic scenes, restaurants, and local chefs, the city proves its warmth and hospitality to the judges and competitors alike.