Indian Stock Market Faces Volatility Amid Geopolitical Tensions and Sectoral Downturns Indian benchmark indices, including the Sensex and Nifty, opened lower on Thursday amid mixed market sentiment. The Sensex fell 1,030 points, or 1.35%, to 76,652.59, while the Nifty dropped 258.15 points, or 1.07%, to 23,792.45. Sectoral indices were broadly weak, with PSU banks, private banks, energy, oil & gas, and realty sectors declining between 1% and 2%. The India VIX, a measure of market volatility, surged over 10% to 20.8, reflecting heightened uncertainty. Midcap and smallcap indices also declined, with the Nifty Midcap and Smallcap indices shedding 1% each. Among the key performers, power and telecom sectors saw gains, while midcap and smallcap stocks dragged down the overall market. Mahanagar Gas appointed Praveer Kumar Srivastava as its new Managing Director, effective April 30, replacing Ashu Shinghal. The stock closed 0.86% higher at Rs 1,083.00, though trading volumes were significantly lower than the five-day average. Mahindra & Mahindra’s shares fell 0.60% to Rs 3,242.10, with trading volumes dropping by 56.58% compared to the average. Just Dial’s share price dipped 0.77% to Rs 576.80, despite a 2.42% rise in the previous session. The stock remains 45.06% below its 52-week high and 18.67% above its 52-week low. Meanwhile, Shriram Finance’s shares fell 2.47% to Rs 1,001.80, with JPMorgan retaining an "overweight" rating and setting a target price of Rs 1,180. The firm cited factors such as a capital infusion, cost of funds reduction, and expected 25% PAT CAGR over FY26–28. ICICI Prudential Life Insurance Company’s shares declined 0.37% to Rs 545.95, though Morgan Stanley upgraded the stock to "overweight." The company’s market cap stood at Rs 79,125.68 crore, with its share price trading 22.#nifty #sensex #indian_stock_market #mahanagar_gas #icici_prudential_life_insurance
Despite PNG meter connection, nearly 40% customers can't access piped gas Many households with installed piped natural gas (PNG) meters are still unable to receive gas supply, according to recent reports. The Petroleum and Natural Gas Regulatory Board (PNGRB) has directed city gas distributors to prioritize resolving this issue, as the government continues to promote a shift from liquefied petroleum gas (LPG) cylinders to PNG. Despite efforts to expand connections, a significant portion of existing customers remain inactive, raising concerns about the effectiveness of current initiatives. Industry experts attribute the problem to a lack of last-mile connectivity, which refers to the final segment of infrastructure required to deliver gas to individual households. City gas companies, including Indraprastha Gas, GAIL Gas, Mahanagar Gas, and BPCL, have been advised to focus on activating existing connections rather than solely expanding new ones. Sujata Sharma, a joint secretary in the oil ministry, highlighted that companies are offering incentives such as free gas worth Rs 500 for households and waived security deposits for commercial users to encourage adoption. The challenge of inactive connections stems from a combination of factors. Some city gas distributors rushed to meet licensing targets in the past, leading to the installation of meters without thorough assessment of actual demand. Additionally, companies often provided connections without upfront payments, allowing customers to pay only once gas supply began. This practice inflated connection numbers but failed to ensure active usage. In many cases, the last-mile pipeline was never laid, or customers opted not to activate their meters due to a lack of need for PNG.#bpcl #indraprastha_gas #petroleum_and_natural_gas_regulatory_board #gail_gas #mahanagar_gas
