Buy Mahanagar Gas, target price Rs 1310: Motilal Oswal

Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural, Other Operating Revenue and Pipes & Fittings for the year ending 31-Mar-2022.

By ETMarkets.com | Updated: Oct 31, 2023, 10.45 AM IST

Promoters held 32.5 per cent stake in the company as of 30-Sep-2023, while FIIs owned 30.51 per cent, DIIs 16.1 per cent.

Motilal Oswal has buy call on Mahanagar Gas Ltd. with a target price of Rs 1310. The current market price of Mahanagar Gas Ltd. is Rs 1030.6.

Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 10203.25 Crore) operating in Gas & Petroleum sector.

Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural, Other Operating Revenue and Pipes & Fittings for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-09-2023, the company reported a Standalone Total Income of Rs 1772.65 Crore, up 2.52 % from last quarter Total Income of Rs 1729.13 Crore and up 11.58 % from last year same quarter Total Income of Rs 1588.64 Crore. Company reported net profit after tax of Rs 338.50 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 32.5 per cent stake in the company as of 30-Sep-2023, while FIIs owned 30.51 per cent, DIIs 16.1 per cent.

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