Buy MGL,target price Rs 990: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities Limited has buy call on Mahanagar Gas Ltd. with a target price of Rs 990.0 . The current market price of Mahanagar Gas Ltd. is Rs 953.9 Shrikant Chouhan recommended to keep stoploss at Rs 925
Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 9353.76 Crore) operating in Gas & Petroleum sector.

Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural which contributed Rs 3031.27 Crore to Sales Value (99.16 % of Total Sales), Other Operating Revenue which contributed Rs 20.28 Crore to Sales Value (0.66 % of Total Sales) and Pipes & Fittings which contributed Rs 5.24 Crore to Sales Value (0.17 % of Total Sales)for the year ending 31-Mar-2019.


For the quarter ended 30-06-2019, the company has reported a Standalone sales of Rs 757.49 Crore, up 4.84 % from last quarter Sales of Rs 722.54 Crore and up 22.31 % from last year same quarter Sales of Rs 619.34 Crore Company has reported net profit after tax of Rs 170.24 Crore in latest quarter. The company’s top management includes Dr.Ashutosh Karnatak, Mr.Arun Balakrishnan, Mr.Deepak Sawant, Mr.Premesh Kumar Jain, Mr.Raj Kishore Tewari, Mr.Sanjib Datta, Mr.Santosh Kumar, Mrs.Radhika Haribhakti. Company has SRBC & Co LLP as its auditoRs As on 30-09-2019, the company has a total of 98,777,778 shares outstanding.