CNG RETAILING
Consumers bend the road: No straight drive from ICE to electric
The transition from internal combustion engine (ICE) vehicles to electric vehicles faces challenges as consumers show a preference for hybrids and CNG vehicles over pure EVs. Maruti Suzuki expects significant growth in CNG car sales, signaling a shift towards alternative fuel technologies alongside traditional options.
Expecting FY25 to be better than FY24 for exports: Rakesh Sharma, Bajaj Auto
We expect the markets to be growing at about 7% to 8% in the coming year with the upper half of the industry growing at perhaps 2-3% points more and the bottom half growing at 2-3% points less than the average of 7% to 8%.
Energy, auto companies bet big on LNG trucks
LNG trucks are called long-haul vehicles, as they have a driving range of 600-1,000 km in a single fuel fill, giving them an edge over other fuels. By 2030, India could see 50,000 trucks serviced through 400 LNG retail stations, according to Emkay Research. India has around 4 million trucks operating, of which 1 to 1.5 million would be diesel-run trucks. Emkay Research says 3-5% of this can be converted to/replaced by LNG by CY30, which implies 50,000 trucks.
In the green race, auto companies hop on powertrains
Car companies in India are adapting to a mix of powertrain technologies, including petrol, hybrids, and electric, to meet policy initiatives and changing preferences. The market demands diverse options for cleaner and sustainable transport solutions, driving competition and innovation.
Torrent Gas announces reduction in CNG prices by Rs 2.50 per kg across all locations
Torrent Gas reduces CNG prices by Rs 2.50/kg, following Mumbai and Delhi's price cuts. The reduction makes CNG up to 45% cheaper than petrol and up to 37% cheaper than diesel. Mahanagar Gas and Indraprastha Gas had earlier announced similar price cuts. The reductions are attributed to a softening in input gas prices. Torrent Gas, with 428 CNG stations and over 1 lakh piped cooking gas customers, expects the price cut to boost the adoption of CNG vehicles.
Passenger vehicles industry to grow up to nine percent this fiscal, says ICRA
The report said that dealer inventories remain high despite strong retail sales, and the pace of growth is expected to taper off in the coming financial year. ICRA said that during the recently concluded festive season, retail sales grew six percent year-on-year.
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Jio-BP to add 250 fuel retail outlets this year, double EV charging points
Reliance BP Mobility Limited (RBML), the joint venture between Reliance Industries and BP, plans to expand the retailing of compressed bio-gas (CBG) and Bio-CNG (B-CNG) to 200 outlets. Currently retailing in western India, the company aims to have 1950 fuel retail outlets, including 250 additions by the end of 2024.
More than just an index and it's not Nifty: A collection of stocks suitable for trading and investing alike
Out of 50 stocks, only 5 of them have delivered negative returns in the last one year. Out of these 5 stocks, three stocks belong to one industrial house which faced headwinds early last year. 7 stocks have delivered more than 100 percent return, 4 stocks have gained between 80 to 100 %, 8 stocks have gained between 60 to 80 %, 5 stocks between 40 to 60 %, 12 stocks have gained between 20 to 40% and 9 stocks have gained between 0 to 20%. So, if you have focussed only on these 50 stocks out of a total universe of more than 3000 stocks which are traded, the probability that you would have been able to make money both in volatile and trending markets and also satisfy your desire to be a trader and investor at same time would have been met. The reason why is stocks? Most retail traders have a tendency to trade with bullish bias and prefer taking long positions rather than going short even when markets are not so bullish.
Startup IPM to set up 100 fuel outlets; to start from Assam
The Delhi-based company has already generated a net worth of Rs 250 crore to roll out its network to sell different types of fuel in the country.
Tata Motors reports highest-ever monthly retail sales in November
In an interaction with PTI, Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said the automaker retailed around 53,000 units in November, which was 8 per cent higher as compared to October this year and 30 per cent up as compared to sales in November 2022.
Measures to push up EVs not really a push down for CNG vehicles: Shashank Srivastava, Maruti Suzuki
“Today almost 25% of our products are CNG and about 15% of the industry now is CNG as compared with about 17.5% for diesel. Yes, EV is also separate, currently at around 2.4% of the industry. Yes, there would be support for EV and in the intermediate period before EVs become mainstream, you would find support continuing for hybrid and CNG as well.”
Govt opens 12th city gas bid round
Petroleum and Natural Gas Regulatory Board (PNGRB) offered seven geographical areas (GAs) of Arunachal Pradesh, Meghalaya, Manipur, Nagaland, Sikkim, Union territory (UT) of Jammu & Kashmir and Ladakh under the 12th city gas distribution (CGD) bidding round for retailing of CNG to automobiles and piping the fuel to household kitchens and industries.
Govt expands CNG retailing with bidding round in J&K, Northeast
India's Petroleum and Natural Gas Regulatory Board (PNGRB) has offered licenses for the retailing of compressed natural gas (CNG) in seven areas, primarily in the North East and J&K. This move aims to expand the reach of natural gas in the country. The bidding round includes areas such as Arunachal Pradesh, Meghalaya, Manipur, Nagaland, Sikkim, Jammu & Kashmir, and Ladakh.
MGL slashes prices of CNG in Mumbai; to cost Rs 76/ kg from Oct 2
Mumbai's Mahanagar Gas Limited (MGL) has announced a reduction in the retail price of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) by Rs 3 per kilogram and Rs 2 per SCM respectively. The new rates, effective from October 2, will be Rs 76 per kg for CNG and Rs 47 per SCM for PNG.
Auto retail sales surge 9% in Aug
Vehicle registrations in India increased by 9% last month, indicating healthy customer demand in the lead-up to the festive season. The Federation of Automobile Dealers Association (FADA) expects this momentum to continue due to new vehicle launches and signs of revival in rural markets.
We plan to invest ₹1.5 lakh crore in five years to expand operations: G Krishnakumar, BPCL chairman
The state-run oil marketing company, which reported a consolidated profit of ₹10,644 crore in the first quarter ended June on the back of handsome refining and marketing margins, also plans to raise up to ₹18,000 crore in a rights issue this fiscal year.
Passenger vehicle sales see best-ever June performance
As per industry estimates, as many as 327,700 units were sold last month, an increase of 1.9% over 326,600 units sold in the same period last fiscal. Automakers in India mostly report wholesale dispatches from factories to dealerships and not retail sales to customers.
Jet fuel price up 1.6 per cent on global cues
Jet fuel prices in India have been raised by 1.65% after four months of reductions. The increase follows a rise in global rates and is the first price hike in four months. Aviation Turbine Fuel (ATF) prices were increased by INR 1,476.79 per kilolitre in the national capital to INR 90,779.88 per kl. In addition, commercial LPG prices remained unchanged in Delhi but marginally increased in Mumbai, Kolkata, and Chennai.
Car sales to race past two-million milestone in 2023 first half
India's passenger car market is slated to expand 10% in the first half of 2023, making it the third consecutive six-month period in which sales are estimated to climb in double digits. If the pace of growth in dispatches sustains through the second half, India could become the third-largest car market in the world in 2023.
Tata Motors doubles down on CNG variants as demand surges
The company, which launched the CNG variant of small car Altroz recently, said new launches in the segment, coupled with continued price differential with petrol and increased availability of CNG dispensing stations have been driving demand.
CNG penetration for Maruti Suzuki stands at around 26%: Shashank Srivastava
The retail though slightly lower than that 325,000 although it is still a growth over last year almost 14% growth. Maruti, in fact, grew faster in both wholesale and retail and as a result, market share went up 1% in May, now standing just above 43%.
Ekansh Mittal is betting on garment exporters, pigment and CNG stocks. Here’s why
Katalyst Wealth founder Ekansh Mittal is keeping an eye on companies supporting the growth of the CNG sector and infants' and children's garment export sector or companies supporting the consolidation of vendors in the garment export sector. He also sees potential in stocks that have suffered from fluctuations in demand, including dyes, dye intermediates and pigments. Additionally, Mittal is looking to CNG pump prices, which have dropped starting mid-2022, as an opportunity to invest in those stocks.
Golden opportunity for gas companies in India
CNG and PNG have an important role to play in India's journey towards 1 billion tonnes of cumulative emission reduction by 2030. While the decarbonisation pathway for transportation lays much emphasis on EVs, fleet substitution is a long-drawn process.
Adani Total Gas shares hit 5% upper circuit after gas price cut
In Q3 FY23, Adani Total Gas posted 17% growth in consolidated net profit at Rs 150 crore. The same was Rs 128 crore in the corresponding quarter of last year. Its revenue from operations rose 27% year-on-year (YoY) to Rs 1,185 crore for the third quarter of FY23. It was Rs 931 crore in the same quarter last year.
Jio-BP to sell bio-CNG, compressed biogas
"Jio-bp is actively working on setting up CBG/bio-CNG retailing at its collocated fuel retail outlets and our first outlet is likely to come up soon," Jio-bp told ET in an emailed response.
CNG-powered vehicles increase share in car sales to 10%
Lower cost of operation compared to cars run on diesel and petrol, new launches, and higher cash incentives are powering the rising demand for CNG vehicles, experts said.
Maruti Suzuki extends CNG fuel option to vehicles sold under Nexa retail chain
The Baleno S-CNG will be available in two variants. Delta, manual transmission (MT) to be priced at Rs 8.28 lakh and Zeta (MT) tagged at Rs 9.21 lakh, while the XL6 S-CNG will be available only on Zeta (MT) variant at Rs 12.24 lakh (all prices ex-showroom).
IGL to invest Rs 8,000 crore in five years for expansion
Of the planned Rs 8,000 crore, about Rs 6,000 crore would go towards setting up city gas infra in seven new license areas and the balance into enhancing facilities in the four existing areas, according to IGL’s managing director Sanjay Kumar.
21 bids for licence to retail CNG to automobiles and piped cooking gas to households in five areas
The Petroleum and Natural Gas Regulatory Board (PNGRB) had offered five Geographical Areas (GAs), spread over 27 districts in five states, in the 11A city gas distribution (CGD) bid round. Bids for the five GAs were received on April 6, PNGRB said in a statement. "21 bids have been received from 7 bidders with no single bid in any GA."
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