We had highlighted in our previous report how cheaper propane and LPG were emerging as the alternatives at Morbi. Sale of propane stands slightly lower at 0.07mmscmd due to an increase in prices. However, our channel checks suggest that there are 15 new propane installations coming up at Morbi by March 2018, and 28 more are in various stages of construction. Increased flexibility would result in higher volatility for GUJGA. Coal prices are at INR8/kg, ~15% cheaper than gas....