New Delhi, Jan 1: GAIL Gas Limited on Thursday announced to reduce the cost of domestic Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) by Rs 1 per SCM (Standard Cubic Meter) and Rs 1 per kg respectively, across all its authorised areas in the country.

The price cut comes into effect from January 1 in GAIL Gas Geographical Areas (GAs) in Uttar Pradesh, Karnataka, Madhya Pradesh, Haryana, Uttarakhand, Jharkhand, Chhattisgarh, Rajasthan and Odisha.

“The Ministry of Petroleum and Natural Gas and the Petroleum and Natural Gas Regulatory Board (PNGRB) continue to implement progressive policy measures that are fostering a favourable and financially sustainable ecosystem for the growth of the CNG and domestic PNG market in India,” said GAIL Gas Chief Executive Officer.

“The recent revision of the Unified Tariff by PNGRB, from January 1, 2026, including the applicability of Zone-1 tariff to City Gas Distribution (CGD) entities for CNG and domestic PNG segments, is set to significantly reduce the transportation cost of natural gas, the GAIL Gas executive added.

The decision to reduce prices is in line with the Government of India’s vision of a gas-based economy and to further encourage the adoption of clean fuels.

GAIL Gas Limited is a wholly owned subsidiary of Maharatna PSU GAIL (India) Limited and is implementing City Gas Distribution networks in 16 Geographical Areas (GAs).

Meanwhile, GAIL (India) Limited, the country’s largest natural gas company, reported a consolidated performance marked by steady revenue growth and improved profitability in the second quarter of FY 2025-26.

According to a recent Crisil report, city gas distribution (CGD) companies in India are projected to clock an operating profit of Rs 7.2–7.5 per standard cubic metre (scm) this fiscal — up 8-12 per cent compared with the second half of last fiscal when margins dropped because of a sudden and steep decline in gas allocation under the administered price mechanism (APM) for the compressed natural gas (CNG) segment.

Consequently, distributors had to take recourse to the spot gas market for supply, which exerted upward pressure on cost. The companies have, thereafter, transitioned to contracted supplies, which is expected to burnish margins.

Mumbai: The work on India’s ambitious Mumbai-Ahmedabad Bullet Train Project is progressing at full pace, and the Centre has now announced a long-awaited timeline. Union Railway Minister Ashwini Vaishnaw on Thursday said that the country’s first bullet train will begin operations on August 15, 2027, marking a major milestone in India’s railway modernisation journey.

The announcement has brought clarity to a question many citizens have been asking, when will India finally see its first bullet train in operation. The high-speed rail project, which is currently under construction, is expected to majorly reduce travel time between Mumbai in Maharashtra and Ahmedabad in Gujarat and introduce global standards of rail infrastructure in the country.

Meanwhile, Vaishnaw also introduced India’s first Vande Bharat sleeper train, which will soon begin service on the Guwahati–Kolkata route. The train will be flagged off by Prime Minister Narendra Modi in the coming days, the minister said.

Vaishnaw said the Vande Bharat sleeper train has successfully completed its testing and certification process. Highlighting its importance, he said the new service will offer world-class facilities, enhanced safety and a modern travel experience for passengers undertaking long-distance overnight journeys.

“The complete testing and certification of the Vande Bharat sleeper train has been completed. Its first route is proposed to be Guwahati–Kolkata. Prime Minister Narendra Modi will flag off the first Vande Bharat sleeper train on this route in the coming days. This achievement is a major milestone,” Vaishnaw said.

On December 30, 2025, the railway minister shared a video on social media platform X showing the sleeper version of the Vande Bharat train undergoing high-speed trials. The video demonstrated the train’s stability as its speed increased from 178 kmph to 180 kmph within seconds.According to the Railway Ministry’s year-end review, the Vande Bharat sleeper trains are expected to revolutionise long-distance rail travel in India. Initially, the trains will be introduced on busy routes and later expanded across the network, significantly cutting travel time.

The Vande Bharat sleeper trains are manufactured by BEML Limited using technology developed by the Integral Coach Factory (ICF). Each train consists of 16 coaches, including AC First Class, AC 2-Tier and AC 3-Tier coaches, with a total passenger capacity of 1,128. With a top speed of 180 kmph, the Vande Bharat sleeper ranks among the fastest overnight trains in the country.

Currently, Indian Railways operates semi-high-speed Vande Bharat trains with a design speed of 180 kmph and a maximum operational speed of 160 kmph. The sleeper version aims to combine the comfort of the Rajdhani Express with advanced modern technology, offering a new standard for overnight rail travel in India.

Mumbai, Jan 1: Shares of major cigarette makers fell sharply on Thursday after the government announced to slap a fresh excise duty on cigarettes next month, a move that is expected to push up prices and impact sales.

Stocks of ITC and Godfrey Phillips dropped by as much as 19 per cent during the intra-day’s trade on Thursday.

According to a government order, the new excise duty will come into effect from February 1.

The duty has been fixed in the range of Rs 2,050 to Rs 8,500 per thousand cigarette sticks, depending on the length of the cigarettes.

This additional tax is likely to make cigarettes more expensive, which could hurt demand and weigh on the earnings of cigarette companies.

Following the announcement, ITC shares fell up to 10 per cent on the BSE and hit a 52-week low of Rs 362.70.

The stock also came under pressure due to a large block deal reported during the session, which added to the selling momentum.

Over the past one year, ITC shares have declined 17 per cent and are down 9 per cent in the last six months.

The company remains one of the heavyweight stocks in the benchmark indices, with a market capitalisation of over Rs 4.75 lakh crore.

Godfrey Phillips shares saw an even steeper fall. The stock tumbled nearly 19 per cent to touch the day’s low of Rs 2,230.15 on the BSE.

Despite the sharp fall on Thursday, the stock is still up nearly 49 per cent over the past one year.

The new excise duty on cigarettes will be levied over and above the goods and services tax. As per the new structure, cigarettes, tobacco and similar products will attract a GST rate of 40 per cent from next month.

The excise duty will replace the compensation cess that was earlier imposed on these products.

The change follows Parliament’s approval of an amendment law in December that replaces the temporary levy on cigarettes and tobacco products.