BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
We expect a further upward revision in the administered price mechanism gas price from October 01, 2022 to $9/ metric million British thermal unit (from $6.1/mmbtu currently) led by high global gas prices in FY22.
Every $1/mmbtu rise in gas price requires ~Rs 4/kilogram hike in compressed natural gas price.
Benchmark petrol/diesel prices have fallen to $114/$134 per barrel of oil in the last few days from $138/$149 per bbl in Q1 FY23 along with a decline in crude as well as crack spreads.
The narrowing of CNG and auto fuel price gaps is likely to reduce CNG conversions and is negative primarily for Indraprastha Gas Ltd. and Mahanagar Gas Ltd.
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