Latest news with #MahanagarGasLtd
Time of India
an hour ago
- Business
- Time of India
Stock Radar: MGL trades above upwards sloping trendline, reclaims 100-EMA; check target & stop loss
Mahanagar Gas Ltd (MGL) is showing bullish signs, rebounding from Rs 1,300 levels and trading above its 100-day EMA. Experts suggest a potential upside towards Rs 1,490 in the near term, supported by positive momentum and an upward-sloping trendline. Mahanagar Gas Ltd (MGL), part of the gas industry, took support above 100-days Exponential Moving Average (EMA) on the daily charts and traded above the upwards sloping trendline which is a positive sign for the traders can look to buy the stock for a target of Rs 1,490 in the next few weeks, suggest experts. The stock closed at Rs 1,416 on June 9, stock hit a high of Rs 1,988 on September 25, 2024, but it failed to
Economic Times
2 hours ago
- Business
- Economic Times
Stock Radar: MGL trades above upwards sloping trendline, reclaims 100-EMA; check target & stop loss
Mahanagar Gas Ltd (MGL), part of the gas industry, took support above 100-days Exponential Moving Average (EMA) on the daily charts and traded above the upwards sloping trendline which is a positive sign for the traders can look to buy the stock for a target of Rs 1,490 in the next few weeks, suggest experts. The stock closed at Rs 1,416 on June 9, stock hit a high of Rs 1,988 on September 25, 2024, but it failed to
Mint
19 hours ago
- Business
- Mint
Lower crude brings relief to Mahanagar Gas amid falling APM gas allocation
Mahanagar Gas Ltd (MGL) just got some cushion amid the falling share of cheaper administered price mechanism (APM) gas in its overall sourcing mix. Three things should help here: increase in price of compressed natural gas (CNG) and domestic piped natural gas, sustained volume growth, and lower crude oil prices. MGL's cost of gas jumped in FY25 as the share of APM gas dropped to 56% from 70% in FY24. Thus, its Ebitda per scm (standard cubic meter) fell sharply to ₹10.2 from ₹13.9 in FY24. At its recent investor meet, the city gas distributor guided for 10%+ volume growth over the next 2-3 years, along with Ebitda of ₹9-11 per scm despite lower APM allocation, down to 39% in FY26 so far. Ebitda is short for earnings before interest, taxes, depreciation, and amortization. The APM gas is priced at 10% of domestic crude basket with a cap of $6.75 per mmBtu (million British thermal units), which is being replaced by new wells gas (NWG), priced at 12.5% of domestic crude basket with no cap. The management projects 7-10% of APM gas to shift to NWG each year. Also Read: Blue Star faces the heat in Q1 from a milder summer season The lower gas allocation should be offset by the drop in crude price with Brent crude now at about $65 per barrel, down from average of $75.8 per barrel in Q4FY25 and over $80 a year ago. Motilal Oswal Financial Services projects Brent prices to average $65 per barrel in FY26 and FY27. The broking firm expects MGL's Ebitda margin to cross ₹10 per scm, backed by the sales price revision done in April and declining crude. Positive outlook Volume growth is another trigger. FY25 volume growth was about 12%, up from 6% in FY24 led by industrial and commercial (I/C) consumers and can sustain here. I/C consumers form 15% of FY25 volumes and grew 24% owing to addition of few large customers. I/C is expected to grow 20% in FY26. The automotive segment, forming 70% of volumes, grew 11% in FY25. MGL plans to open 80 new CNG stations in FY26, taking the total to about 550. Also Read: Realty firms are on a high after last year's spending spree to buy land Amid improving outlook, MGL's shares have gained about 11% so far in 2025. The stock trades at 13x FY26 estimated earnings, shows Bloomberg data. While valuations don't appear steep, any sudden government decision to cut APM gas allocation or a reversal in crude price trend, may hurt sentiments. Nuvama Research has retained its 'Reduce' rating on sector multiples' de-rating due to ad-hoc government policies causing uncertainty (similar to OMCs, which trade at a sizeable discount). Also Read: For steel companies, Q4 was an inflexion point as prices, demand firm up
Business Standard
2 days ago
- Business
- Business Standard
Mahanagar Gas Ltd rises for third consecutive session
Mahanagar Gas Ltd is quoting at Rs 1389.6, up 4.51% on the day as on 12:49 IST on the NSE. The stock is down 1.6% in last one year as compared to a 7.96% spurt in NIFTY and a 10.35% spurt in the Nifty Energy index. Mahanagar Gas Ltd is up for a third straight session today. The stock is quoting at Rs 1389.6, up 4.51% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.43% on the day, quoting at 25109.55. The Sensex is at 82487.47, up 0.36%. Mahanagar Gas Ltd has slipped around 1.39% in last one month. Meanwhile, Nifty Energy index of which Mahanagar Gas Ltd is a constituent, has slipped around 4.56% in last one month and is currently quoting at 35924.05, up 1.1% on the day. The volume in the stock stood at 17.83 lakh shares today, compared to the daily average of 5.04 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 1396.3, up 4.6% on the day. Mahanagar Gas Ltd is down 1.6% in last one year as compared to a 7.96% spurt in NIFTY and a 10.35% spurt in the Nifty Energy index. The PE of the stock is 12.57 based on TTM earnings ending March 25.
Business Insider
10-05-2025
- Business
- Business Insider
Mahanagar Gas Ltd (MGL) Receives a Sell from Jefferies
Jefferies analyst Bhaskar Chakraborty maintained a Sell rating on Mahanagar Gas Ltd (MGL – Research Report) on May 7 and set a price target of INR1,250.00. The company's shares closed yesterday at INR1,364.00. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Currently, the analyst consensus on Mahanagar Gas Ltd is a Moderate Buy with an average price target of INR1,559.67. The company has a one-year high of INR1,988.55 and a one-year low of INR1,075.00. Currently, Mahanagar Gas Ltd has an average volume of 18.19K.
