Reduce Mahanagar Gas, target price Rs 925: ICICI Securities

ICICI Securities has reduce call on Mahanagar Gas with a target price of Rs 925. The current market price of Mahanagar Gas Ltd. is Rs 1060.45.

Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 10466.00 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-09-2020, the company reported a Standalone sales of Rs 548.95 Crore, up 97.84 % from last quarter Sales of Rs 277.47 Crore and down -29.94 % from last year same quarter Sales of Rs 783.58 Crore Company reported net profit after tax of Rs 144.34 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 32.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 25.6 per cent, DIIs 30.1 per cent and public and others 11.8 per cent.