Buy Mahanagar Gas, target Rs 875: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has a buy call on Mahanagar Gas Ltd. with a target price of Rs 875. The current market price of Mahanagar Gas Ltd. is Rs 850.8. The tme period given by the analyst is Intra Day when Mahanagar Gas Ltd. price can reach the defined target. IIFL recommended to keep stoploss at Rs 830. Mahanagar Gas Ltd., incorporated in 1995, has a market cap of Rs 8404.01 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 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 Mr.Arun Balakrishnan, Mr.Ashu Shinghal, Mr.Deepak Sawant, Mr.Premesh Kumar Jain, Mr.Raj Kishore Tewari, Mr.Sanjib Datta, Mr.Santosh Kumar, Mr.Satish Gavai, Mr.Trivikram Arun Ramanathan, Mrs.Radhika Haribhakti. Company has SRBC & Co LLP as its auditors. As on 30-06-2019, the company has a total of 98,777,778 shares outstanding.