Amid talks to launch gas driven two-wheelers, keep a close eye on IGL
Shital Jibhe / 26 Nov 2016
In June, this year, a pilot project was launched which was aimed to introduce CNG as a fuel for two-wheelers. The government is promoting the use of gas in the country to fulfil COP-21 commitments to curb pollution.
In June, this year, a pilot project was launched which was aimed to introduce CNG as a fuel for two-wheelers. The government is promoting the use of gas in the country to fulfil COP-21 commitments to curb pollution. The project, nick-named "Hawa Badlo", was implemented by Delhi's city gas distributor Indraprastha Gas Ltd (IGL) and its parent firm, GAIL (India), and involves 50 CNG-retrofitted two-wheelers.
The trail result is still awaited and if successful, would be soon implemented in Pune, as it is the second city in the country to launch CNG kits for two-wheelers. Meanwhile many market pundits have started banking on IGL as it is the prime mover of the project.
The shares of the company on November 25 closed at Rs 835, up by 0.58 per cent. The scrip on an intra-day hit a high of 3 per cent at 855.90. Its parent company GAIL too closed 3.48 per cent higher on the streets. As the project fructifies it could not be wrong to say that this stock could be the next multi-bagger.
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