Meanwhile, the S&P BSE Sensex was up 174.97 points or 0.54% at 32,447.58.

On the BSE, 2,238 shares were traded on the counter so far as against the average daily volumes of 24,248 shares in the past one quarter. The stock had hit a high of Rs 1,136.50 and a low of Rs 1,127.75 so far during the day. The stock had hit a record high of Rs 1,184.95 on 13 September 2017 and a record low of Rs 600 on 21 September 2016.

The large-cap company has equity capital of Rs 98.78 crore. Face value per share is Rs 10.

Mahanagar Gas (MGL) said that the company has started Piped Natural Gas (PNG) supply in Dombivili (East) area of Maharashtra with the residential societies in Milap Nagar being the first households to receive domestic PNG.

Dombivili (East) is a part of MGL's Kalyan-Dombivili-Ambernath-Badlapur (KDAB) zone. As a part of its expansioon plans, in the last couple of years, MGL has laid down its infrastructure of steel and polyethylene pipeline in Dombivili (East) area. The underground network of about 4 km in MIDC phase-1 and Milap Nagar MIDC residential has been successfully gasified for providing PNG in this area.

Mahanagar Gas' net profit increased 34.08% to Rs 124.33 crore on 9.5% rise in total income to Rs 542.87 crore in Q1 June 2017 over Q1 June 2016.

Mahanagar Gas (MGL) is one of India's leading natural gas distribution companies. MGL is a joint venture between GAIL (India) and BGAPH (a subsidiary of Royal Dutch Shell Plc). The company supplies eco-friendly and safe Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Mumbai Metropolitan Region (MMR) and Raigad District.