Mahanagar Gas Shares Surge Over 3%, Chennai Petroleum Up 2.26% as City Gas Distribution, Refining Stocks Catch Bid on Iran Tensions

Mumbai, June 22: Information technology, telecom and oil and gas stocks emerged as Monday’s three brightest spots on Dalal Street, collectively lifting the Nifty 50 above the 24,100 mark as improving global risk appetite and Iran-linked supply anxiety drove buying across otherwise unrelated sectors. While IT and telecom stocks rode the coattails of a firm Wall Street close and cautious optimism from the US-Iran talks in Switzerland, oil and gas counters drew a separate bid entirely — powered by Iran’s renewed closure of the Strait of Hormuz, which stoked fresh fears of an energy supply squeeze. 

Nifty Oil & Gas — Aegis Logistics and MGL Surge as Hormuz Jitters Lift Energy Names 

The Nifty Oil & Gas index rose 0.81% to 11,260.10 on Monday as Iran’s renewed closure of the Strait of Hormuz stoked supply concerns and lifted energy counters, with logistics and city gas distribution stocks seeing the sharpest moves. Aegis Logistics was the session’s star, jumping over 6% as investors priced in tighter LPG supply chains, while Mahanagar Gas and Chennai Petroleum also saw strong buying. Reliance Industries, the index heavyweight, added 1.49% and lent key support to the index. 

• Aegis Logistics (AEGISLOG): LTP ₹1,068.60 | Prev Close ₹1,007.80 | +6.03% 

• Mahanagar Gas (MGL): LTP ₹1,250.90 | Prev Close ₹1,209.00 | +3.47% 

• GAIL: LTP ₹177.19 | Prev Close ₹173.90 | +1.89% 

• Chennai Petroleum (CHENNPETRO): LTP ₹1,122.60 | Prev Close ₹1,097.80 | +2.26% 

• Reliance Industries (RELIANCE): LTP ₹1,329.00 | Prev Close ₹1,309.50 | +1.49% 

• Aegis Vopak Terminals (AEGISVOPAK): LTP ₹243.35 | Prev Close ₹238.35 | +2.10% 

• Castrol India (CASTROLIND): LTP ₹187.00 | Prev Close ₹185.80 | +0.65% 

• Indraprastha Gas Limited (IGL): LTP ₹169.25 | Prev Close ₹167.60 | +0.98% 

• HINDPETRO: LTP ₹393.00 | Prev Close ₹392.10 | +0.23% 

• BPCL: LTP ₹307.50 | Prev Close ₹306.60 | +0.29% 

• IOC: LTP ₹143.72 | Prev Close ₹143.43 | +0.20% 

IT Stocks Bounces Back Hard 

The Nifty IT index surged 1.38% to 27,805.95 on Monday, staging its sharpest single-session recovery in weeks as technology stocks clawed back losses from Friday’s selloff, which had been triggered by Accenture’s cautious Middle East outlook. With the US-Iran talks in Switzerland concluding with a 60-day roadmap and Wall Street’s Nasdaq ending Friday up 1.91%, sentiment around global technology spending improved sharply, lifting Indian IT names across the board. Large-caps led the charge but mid-cap IT names also saw broad-based buying. 

• Infosys (INFY): LTP ₹1,067.60 | Prev Close ₹1,051.40 | +1.54% 

• TCS: LTP ₹2,153.70 | Prev Close ₹2,125.00 | +1.35% 

• Tech Mahindra (TECHM): LTP ₹1,441.70 | Prev Close ₹1,409.60 | +2.28% 

• HCLTech: LTP ₹1,142.90 | Prev Close ₹1,131.70 | +0.99% 

• Coforge: LTP ₹1,495.60 | Prev Close ₹1,463.30 | +2.21% 

• Mphasis: LTP ₹2,299.00 | Prev Close ₹2,267.50 | +1.39% 

• Cyient: LTP ₹880.55 | Prev Close ₹859.05 | +2.50% 

• Oracle Financial Services (OFSS): LTP ₹9,779.50 | Prev Close ₹9,638.50 | +1.46% 

Telecom Stocks: Tata Comm Leads as Connectivity Plays Get a Bid 

Telecom stocks within the Nifty Midsmall IT & Telecom index picked up momentum on Monday, with the broader index rising 1.21% to 9,565.05. Tata Communications was the standout gainer, rallying sharply as investors warmed to connectivity and global networking infrastructure names amid improving geopolitical sentiment. The Iran-US Switzerland agreement, which included a mechanism to reopen safe maritime communication corridors, broadly lifted sentiment around global connectivity infrastructure. 

• Tata Communications (TATACOMM): LTP ₹2,065.30 | Prev Close ₹1,988.80 | +3.85% 

• HFCL: LTP ₹214.70 | Prev Close ₹209.61 | +2.43% 

• Bharti Hexacom (BHARTIHEXA): LTP ₹1,505.60 | Prev Close ₹1,494.50 | +0.74% 

• Indus Towers (INDUSTOWER): LTP ₹412.05 | Prev Close ₹411.20 | +0.21% 

• Vodafone Idea (IDEA): LTP ₹14.93 | Prev Close ₹14.92 | +0.07% 

Sources:

• https://www.nseindia.com/market-data/live-equity-market?symbol=NIFTY%20MS%20IT%20TELCM 
• https://www.nseindia.com/market-data/live-market-indices 
• https://www.nseindia.com/market-data/live-equity-market?symbol=NIFTY%20MS%20IT%20TELCM