Whalesbook
Bro, ye jo apne desh ke bahar, khaas kar West Asia mein, tensions chal rahi hain na, uska seedha asar ab apne CNG ke rates par pad raha hai. Torrent Gas ne isiliye CNG ka price Rs 2.50 per kg badhaya hai. Global energy market mein jo gadbad hai, uski wajah se ye hike hua hai. Ye commercial LPG aur Aviation Turbine Fuel (ATF) mein jo pehle hi April 1st se badhotri hui thi, uske baad aaya hai. Strait of Hormuz jaise supply routes mein dikkatein aa rahi hain, isi liye crude oil prices badh rahe hain aur uska effect yahan dikh raha hai.
Ab ye sirf Torrent Gas ki baat nahi hai. IGL aur MGL jaise bade players bhi isi mushkil mein hain jo India mein city gas distribute karte hain. Delhi mein IGL ka market cap lagbhag ₹20,500 crore hai aur share price ₹146 ke aas paas chal raha hai, P/E ratio 12.5x ke kareeb. Mumbai mein MGL ka market cap ₹9,500 crore ke kareeb hai aur share ₹953 pe hai, P/E ratio 9.8x ke kareeb. Analysts keh rahe hain ki inka P/E ratio industry average se kam hai, matlab investors thode confused hain ki aage kya hoga. Wahi, ONGC jaise upstream companies toh fayde mein hain kyunki unke liye crude oil prices badhna accha hai (P/E 7x ke aas paas), but IGL/MGL jaise downstream companies ko problem ho rahi hai. PNGRB jaise regulators bhi hain, but imported fuel pe depend hone se ye shocks lagte hi rehte hain.
Sabse badi chinta ye hai ki agar CNG aise hi mehengi hoti rahi, toh log iska use kam kar denge, khaas kar auto drivers jo pehle se hi profit kam hone se pareshan hain. Agar demand giri toh companies ka business bhi affect hoga. Companies jaise IGL aur MGL financially stable hain aur debt bhi kam hai, but ye baahar ke shocks aur demand kam hone ka risk bana hua hai. Future mein CNG prices ka pura game global market aur West Asia mein chal rahe events pe hi depend karega. Analysts toh IGL ke liye positive hain, but dekhte hain ki yeh balance kaise banta hai company, government aur consumers ke beech.