Tue, Sep 17, 2024
As UBS believes new geographical reach as well as infrastructure expansion will drive volume growth for the company, MGL scaled a new 52-week high today.
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Mon, Jul 08, 2024
CNG Price Hike Mumbai: After an increase in input costs, Mahanagar Gas Ltd (MGL) has announced a hike in CNG prices in Mumbai by Rs 1.50 per kg and in the rate of piped cooking gas to households by Re 1. These revised prices will take effect from the night of July 8 to July 9. Mahanagar Gas Ltd serves Mumbai and its neighboring cities by retailing CNG for automobiles and providing piped natural gas for cooking purposes.
Mon, Jun 10, 2024
Stock of The Day: Today Anil Singhvi gave buying advice in Mahanagar Gas. What is stoploss and targets? See in this video.
Wed, Mar 27, 2024
The brokerage believes that OMCs will benefit from a discernible shift in the government's stance towards public sector undertakings (PSUs).
Thu, Mar 07, 2024
IGL, MGL share price: In the previous session, Mahanagar Gas saw a steep cut of over 15 per cent as Citi downgraded the stock to sell with a target price of Rs 1,405.
Wed, Mar 06, 2024
At around 10:29 a.m., shares of Mahanagar Gas traded 15 per cent or Rs 234.7, lower at Rs 1330.15 apiece. The market capitalisation of the company at around the same time stood at Rs 13,138.93 crore.
Thu, Jan 25, 2024
Mahanagar Gas Limited Dividend History: The public sector undertaking (PSU) has reported a consolidated net profit of Rs 317.18 crore in the December 2023 quarter.
Wed, Jan 24, 2024
The company’s revenue during the period under review, however, took a hit and came in lower at Rs 1,723.77 crore in comparison to Rs 1,838.44 crore recorded last year.
Tue, May 09, 2023
MGL share price: On Monday, May 8, 2023, Mahanagar Gas Ltd released its results for Q4FY23 which showed that the company registered a 104 per cent jump in PAT.
Tue, Mar 28, 2023
Stocks to buy today: In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Himanshu Gupta and Avinash Gorakshakar share their top recommendations for the March 28 session.
Wed, Mar 15, 2023
Sid ki SIP: Market expert Siddharth Sedani has recommended buying shares of BPCL, IOC, Mahanagar Gas and Chennai Petro in 'Sid ki SIP' a special segment aired on Zee Business-- check target price
Mon, Mar 06, 2023
MGL share price: Mahanagar Gas Ltd (MGL) has signed an agreement to acquire a 100 per cent stake city gas distributor Unison Enviro, a subsidiary of Ashoka Buildcon.
Mon, Feb 13, 2023
Big news has come for IGL, Mahanagar Gas. Government has approved $4-$6.50/MMBtu floor price on natural gas. The recommendations of the Kirit Parekh Committee were approved by the Ministry of Petroleum. From 2027, APM has also been approved to be removed. Know the complete news from Tarun Sharma.
Wed, Nov 30, 2022
Individually, shares of Indraprastha Gas gained by over 4 per cent to Rs 452 per share, followed by Mahanagar Gas up nearly 3 per cent to Rs 922 per share and Gujarat Gas up 2 per cent to Rs 508 per share on the exchanges intraday.
Tue, Nov 29, 2022
A government-appointed gas price review panel, led by Kirit Parikh, is recommending a floor and ceiling price for natural gas produced from legacy fields of state-owned firms for five years to help moderate CNG and piped cooking gas rates
Mon, Oct 03, 2022
The government sets the price of gas every six months -- on April 1 and October 1 -- each year based on rates prevalent in gas surplus nations.
Tue, Sep 27, 2022
Individually, shares of Mahanagar Gas (MGL), Indraprastha Gas (IGL), and Gujarat Gas Company were up between 4-5 per cent on the BSE intraday.
Thu, Aug 11, 2022
The Ministry of Petroleum and Natural Gas in a notification issued on Wednesday amended an earlier order to increase allocation of domestically produced gas to city gas operators, as per the news agency PTI report.
Wed, Jun 29, 2022
After a three-day back-to-back rally, oil prices declined on Wednesday as concerns about the global economy weighed while tight supply curbed losses
Wed, May 26, 2021
Brokerage firm Sharekhan maintains Buy rating on MGL with an unchanged price target of Rs 1450. Nevertheless, valuation is attractive at 12.2x its FY2023E EPS [steep discount of 45% to that Indraprastha Gas Limited (IGL) on FY2023E PE basis], given industry-leading margins high RoE/RoCE of 24%/30% and FCF yield of 4-5%
Tue, May 25, 2021
Jefferies says that Mahanagar Gas volumes missed Jefferies estimates by 4% leading to a 3% miss on EBITDA even though gross and EBITDA margin were 3%/2% ahead. Final dividend at only Rs 14/sh (2% div yield) is disappointing after a special div last year. Jefferies had already cut FY22E EPS by 12% last week amid COVID 2nd wave and now modestly raised FY22-23E EPS by 1% (higher margin) leading to 1% higher Rs 1680 price target
Mon, Mar 15, 2021
Mahanagar Gas has witnessed sharp recovery in high margin CNG volumes to more than 90% of pre-COVID-19 levels, while domestic PNG volumes is witnessing strong growth of 12-15%. Improving volume and sustainable high margin (recently undertaken a price hike of Rs. 1.5/kg for CNG and Rs. 0.95/scm for domestic PNG) bode well for strong growth in earnings in the coming quarters.
Wed, Feb 10, 2021
Mahanagar Gas EBITDA was up 22% yoy despite a 9% yoy decline in volumes helped by margin expansion and came broadly in-line with Jefferies but 14% ahead of consensus. As flagged recently, Jefferies continues to expect consensus earnings upgrades and note that Mahanagar Gas stock could outperform due to a 25% consensus EPS upgrade even if "valuation" does not re-rate.
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