Mahanagar Gas Ltd shares have risen over 4% at market open after the government approved an incentive scheme to accelerate the expansion of domestic piped natural gas (PNG) connections, with the scheme set to take effect from September 1 this year. The company’s shares have risen almost 3% since the beginning of the year and fallen over 13% in the past year. The stock is at an 18% decline from its 52-week high of ₹1,378 and 29% away from hitting its 52-week low of ₹900. Over 8 lakh shares of the company are being traded on the stock market today at 3.61 times the stock’s 10-day average.
