Whalesbook
India is set to import 10% of its Liquefied Petroleum Gas (LPG) from the United States, marking a significant diversification from traditional Middle Eastern suppliers. Dayanand Mittal, an analyst at JM Financial Institutional Securities, noted this strategic shift could aid India-US relations but offers limited financial benefits to Oil Marketing Companies (OMCs). While pricing is still unclear, potential discounts might offer slight relief to OMCs facing past losses. Mittal remains cautious on City Gas Distribution (CGD) players, particularly those heavily reliant on CNG, due to declining APM gas allocations. He views Gujarat Gas favorably due to anticipated moderation in LNG prices by 2026.