Mahanagar Gas Shares Rise 1.54% After MoU with Oil India to Boost LNG Collaboration

Mumbai, October 7, 2025: Mahanagar Gas Limited’s share price is on the rise today, after the company announced that it has signed a strategic Memorandum of Understanding (MoU) with Oil India Limited to collaborate across the Liquefied Natural Gas (LNG) value chain. As of 10:20 AM, the shares were up by 1.54%, or 19.80 points, and were currently trading at ₹1,303. Until now, the shares have traded within a range of ₹1,333.70 and ₹1,284.40. The traded volume stood at 3.31 lakh shares, with the company’s market cap at ₹12,656 crore. The shares have their 52-week high and low at ₹1,923.75 and ₹1,075.25.

Mahanagar Gas Limited is an Indian company that is engaged in the distribution of natural gas. It was established in 1995 and is headquartered in Mumbai, Maharashtra. The shares of the company are listed on NSE with the ticker symbol MGL and on BSE with the code 539957.

MoU with Oil India

The rise in the share price comes after the company announced that it has signed a strategic Memorandum of Understanding (MoU) with Oil India Limited to collaborate across the Liquefied Natural Gas (LNG) value chain. Under the MoU, both companies will jointly explore business opportunities in the LNG sector and other clean energy domains. The MoU was signed in the presence of MGL’s Managing Director and Oil India’s Director (Operations) and Director (HR).

Acceleration of Cleaner Fuel Adoption and Improved Viability of LNG

Managing Director, MGL, stated: “This collaboration with OIL will help accelerate adoption of cleaner fuels in the long-haul transport sector. It will enable corporates to move towards greener logistics solutions and contribute to reducing the overall pollution footprint.”

Director (Operations), OIL, added: “The collaboration will focus on assessing the technical and commercial viability of LNG in the heavy-duty transport segment and on exploring projects in clean energy. Our objective is to take feasible pilots to commercial scale.”

REF: https://nsearchives.nseindia.com/corporate/MGL25_06102025205059_Reg30PressRelease06102025.pdf

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