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  • 18 Apr 2022
  • ICICI Securities

No fresh allocation by Oil Ministry of APM gas to CGD sector

News: As reported in CNBC TV-18, oil ministry has not made fresh allocation of APM gas to CGD sector and current allocation is maintained at March 2021 level

Views: Shortfall in APM gas allocation led to higher gas soucing costs for CGD companies as LNG costs remain ay elevated level. While the companies have increased prices, we expect margins of CGD companies to remain at lower level compared to historical highs in near term

Impact: Negative