Current price correction provides good entry point given high entry barriers to lucrative markets of Delhi and Mumbai. CGD companies have seen sharp price correction post release of draft policy on open access. While threat of new entrant remains, important clarification on transportation/ compression tariffs to be paid to incumbents is likely to determine the extent of competition going forward. Also, even if the regulations are to move at fast pace, the first volume delivery from new players looks unlikely before FY22 and meaningful impact can be felt by FY25...