Sell Mahanagar Gas, target Rs 780: Dr CK Narayan

Dr CK Narayan of Chart Advise has a sell call on Mahanagar Gas Ltd. with a target price of Rs 780. The current market price of Mahanagar Gas Ltd. is Rs 790. The 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 stop loss at Rs 805.

Mahanagar Gas Ltd., incorporated in 1995, is a mid-cap company with a market cap of Rs 7803.44 crore. Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural which contributed Rs 2222.75 Crore to Sales Value (99.27 % of Total Sales), Other Operating Revenue which contributed Rs 14.15 Crore to Sales Value (0.63 % of Total Sales) and Pipes & Fittings which contributed Rs 2.17 Crore to Sales Value (0.09 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 31-03-2018, the company has reported a Standalone sales of Rs 586.98 Crore, up .96 % from last quarter Sales of Rs 581.41 Crore and up 11.74 % from last year same quarter Sales of Rs 525.33 Crore Company has reported net profit after tax of Rs 104.76 Crore in latest quarter.

The company’s top management includes Mr.Akhil Mehrotra, Mr.Arun Balakrishnan, Mr.Premesh Kumar Jain, Mr.Raj Kishore Tewari, Mr.Rajeev Mathur, Mr.Santosh Kumar, Mr.Sunil Porwal, Mr.V N Datt, Mrs.Radhika Haribhakti, Ms.Susmita Sengupta. Company has SRBC & Co LLP as its auditoRs As on 31-03-2018, the company has a total of 98,777,778 shares outstanding.