Buy Mahanagar Gas, target Rs 1020: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Mahanagar Gas Ltd. with a target price of Rs 1020. The current market price of Mahanagar Gas Ltd. is Rs 971.75 Time period given by the analyst is Intra Day when Mahanagar Gas Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 960. Mahanagar Gas Ltd., incorporated in 1995, is a midcap company with a market cap of Rs 9598.73 crore.

Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural which contributed Rs 2433.09 Crore to Sales Value (99.19 % of Total Sales), Other Operating Revenue which contributed Rs 15.32 Crore to Sales Value (0.62 % of Total Sales) and Pipes & Fittings which contributed Rs 4.51 Crore to Sales Value (0.18 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 31-12-2018, the company has reported a Standalone sales of Rs 752.68 Crore, up 8.06 % from last quarter Sales of Rs 696.51 Crore and up 29.46 % from last year same quarter Sales of Rs 581.41 Crore Company has reported net profit after tax of Rs 148.32 Crore in latest quarter. The company’s top management includes Mr.Arun Balakrishnan, Mr.Ashu Shinghal, Mr.Bhuwan Chandra Tripathi, Mr.Premesh Kumar Jain, Mr.Raj Kishore Tewari, Mr.Sanjib Datta, Mr.Santosh Kumar, Mr.Satish Gavai, Mrs.Radhika Haribhakti. Company has SRBC & Co LLP as its auditoRs As on 31-12-2018, the company has a total of 98,777,778 shares outstanding.