Buy Mahanagar Gas, target Rs 884: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Mahanagar Gas Ltd. with a target price of Rs 884. The current market price of Mahanagar Gas Ltd. is Rs 871.05 Time period given by the analyst is Intra Day when Mahanagar Gas Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 860. Mahanagar Gas Ltd., incorporated in 1995, is a midcap company with a market cap of Rs 8604.04 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 30-09-2018, the company has reported a Standalone sales of Rs 696.51 Crore, up 12.46 % from last quarter Sales of Rs 619.34 Crore and up 30.49 % from last year same quarter Sales of Rs 533.76 Crore Company has reported net profit after tax of Rs 136.29 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 30-09-2018, the company has a total of 98,777,778 shares outstanding.