Our earlier report, India's gas sector to benefit from syzygy ahead', highlighted how CNG/LNG Retail sales have been declining by 3%/11% CAGR for China Gas Holdings/ENN Energy for the past five years. On the contrary, the Industrial segment continued to grow for these companies at 19-20% CAGR for the past few years. Due to high Real Estate prices, we don't expect the Industrial segment to grow in Delhi. Other areas...