MGL share price: Add Mahanagar Gas, target price Rs 1025: HDFC Securities



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HDFC Securities has added a call to Mahanagar Gas with a target price of Rs 1,025. The current market price of Mahanagar Gas Ltd. is Rs 877.45.

The period given by the analyst is one year when the price of Mahanagar Gas Ltd. can achieve the defined goal. Mahanagar Gas Ltd., incorporated in 1995, is a mid-cap company (with a market capitalization of Rs 8652.93 Crore) operating in the oil and gas sector.

The main product / revenue segments of Mahanagar Gas Ltd. include natural gas, other operating revenue and pipe and fittings for the year ending March 31, 2021.

Finance

For the quarter ended 30-09-2021, the company reported stand-alone total income of Rs 930.16 crore, up 35.70% from last quarter total income of Rs 685.47 crore and up by 63.94% compared to the total income for the same quarter of last year of Rs 567.38 crore. The company reported net profit after tax of Rs 204.29 crore in the last quarter.


Promoter / FII Holdings
The promoters held 32.5% of the company’s capital as of September 30, 2021, while the FIIs held 29.38% and the DII 17.8%.

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