Stocks in News 6 December – IGL & Tech Mahindra!

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This video is in Hindi and covers the following topics:

Today’s stock is Indraprastha Gas Limited (IGL) as company hiked prices of compressed natural gas (CNG) in Delhi, Haryana and Rajasthan. The hike has been in effect from 6 A.M. on Saturday (4th Dec). 

2nd Company in news is Tech mahindra as it has acquired work at home customer experience management solutions firm Activus Connect for $62 million

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The transport sector uses Compressed Natural Gas (CNG), the domestic and commercial sectors use it as Piped Natural Gas (PNG) and R-LNG is being supplied to industrial establishments.
Indraprastha Gas Limited on Friday (3rd Dec) hiked prices of compressed natural gas (CNG) in Delhi, Haryana and Rajasthan. The hike has been in effect from 6 A.M. on Saturday. 

Following the latest price revision, the revised CNG price in NCT of Delhi would be Rs.53.04/- per Kg.

Apart from the national capital, the IGL also hiked CNG prices in the neighboring state of Haryana. In Gurugram, the revised CNG price now stands at Rs.60.40/- per Kg.

In Rewari, now CNG will cost Rs.61.10/- per Kg. Whereas, in Karnal & Kaithal the revised price will be Rs.59.30/- per kg.

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Additionally, in Rajasthan, the company said that the revised CNG price in Ajmer, Pali and Rajsamand would be Rs.67.31/- per kg

It is worth mentioning that since October 1, Indraprastha Gas Limited has increased the prices of CNG for the fourth time. Earlier, prices were increased on October 1, 13, and November 14 as well.

Automobile magazine, Autocar says the market has witnessed a spike in demand for CNG vehicles. This notwithstanding the pre-Diwali cut in excise duty on petrol and diesel by Rs 5 and Rs 10 respectively for every litre. The publication reports that as per industry data, about 1.01 lakh CNG vehicles were sold in the country in the three months ending September, this year. This was a 97 per cent growth over sales recorded in the comparable period last year. 

Tech Mahindra is an Indian multinational technology company that provides information technology (IT) and business process outsourcing (BPO) services. A subsidiary of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai.

Tech Mahindra on Friday (3rd Dec) announced that it has acquired work at home customer experience management solutions firm Activus Connect for $62 million

The acquisition will bolster the company’s capabilities in emerging workplace solutions and strengthen end-to-end CX portfolio

Headquartered in the US, the company has 1,750 employees and reported revenues of $17 million in 2020. Activus Connect is a premium provider of Customer Experience Outsourced Solutions, operating across the Continental US & Puerto Rico

Additionally, Tech Mahindra will leverage Activus Connect’s customizable omni-channels and AI-powered compliance analytics platform, SmartVirtual, to render a secure cloud-based ecosystem of technologies, analytics, and virtual management practices.

The acquisition will enable Tech Mahindra to offer multilingual, multichannel, voice & non-voice customer care, sales, retention, social media moderation and technical support to customers across verticals.

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