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Indraprashta, Mahanagar Gas hit 52-week lows on disappointing Q3 results

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Indraprashta, Mahanagar Gas hit 52-week lows on disappointing Q3 results

Shares in City Gas Distribution (CGD), Indraprastha Gas (IGL) and Mahanagar Gas (MGL) each hit 52-week lows on the BSE in intraday trade on Wednesday, after the companies reported disappointing quarter-end figures for 2021 December (Q3FY22) and concerns over the influx of electric vehicles (EVs).

IGL and MGL supply compressed natural gas (CNG) to the transportation sector and pipeline natural gas (PNG) to the domestic industrial and commercial sectors.

Among individual stocks, MGL fell 6 percent to Rs 781.20, falling for the fourth straight session. The stock has fallen 39% from a 52-week high of Rs 1,284 touched on June 16, 2021.

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In the third quarter of fiscal 2022, MGL’s EBIT and earnings before depreciation and amortization (ebitda) margin decreased by 28.66% from 43.06%, mainly due to higher managed pricing mechanism (APM) and market-determined natural gas prices . The company’s net income from operations rose 72% year-on-year to Rs 2,473 crore. Net profit rose 14.34% year-on-year to Rs 465 crore.

IGL shares fell 3 percent to 379 rupees, also a 52-week low in intraday trade on the BSE today. The stock has corrected 37% from its 52-week high of Rs 604 on September 14, 2021. In Q3 FY22, the company’s Ebitda margin fell to 21% from 35% in Q3 FY21. Volumes in the quarter were strong year over year and quarter over quarter. Total sales were 7.7mmscmd (up 22% year over year), CNG sales were 5.6mmscmd (+26%) and PNG sales were 2mmscmd.

IGL can increase sales in new districts such as Rewari, Karnal and Muzzafarnagar; Haryana City Gas; and 10th round of newly awarded GAs – Kaithal (Haryana), Ajmer, Pali and Rajsamand (Rajasthan) , and Kanpur, Fatehpur and Hamirpur (Uttar Pradesh).

However, in the long run, the introduction of electric vehicles may dent CNG demand, which is also endorsed by the company, so it plans to build 50 EV battery swap stations. Motilal Oswal Financial Services said in a results update that its entry into new ventures (as well as LCNG stations) will eventually lead to dilution of CGD’s margins, and the stock is rated Neutral.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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