NSE: MGL | BSE: 539957

Mid-range Performer

Download real time

1107.10 -46.10 (-4.00%)

30.24% Fall from 52W High

181.8K NSE+BSE Volume

NSE 13 Feb, 2026 3:31 PM (IST)

10,935.7

Market Cap

Above industry Median

Beta 1Year

High Volatility

Dividend

Mahanagar Gas last dividend of ₹12.00 per share was given on 13 Feb 2026 See details

Mahanagar Gas Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MGL, BSE:539957 Mahanagar Gas Ltd.

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Mahanagar Gas Ltd.

10 Feb 2026

1107.10

-4.00%

Result Update:Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Axis Direct

We maintain our BUY rating on the stock.

Mahanagar Gas Ltd. has an average target of 1477.57 from 7 brokers.

Mahanagar Gas Ltd.

09 Feb 2026

1107.10

-4.00%

Mahanagar Gas (MAHGL IN) Q3FY26 Result Update Strong volume growth guidance Downgrade to Accumulate'

Accumulate: Mahanagar Gas Ltd.

Recommendation Target

Prabhudas Lilladhar

from CNG buses to EVs, while upcoming large CNG stations provide medium- volumes, partly offset by a decline in PNG indus/comm volume due to pipeline damage in Mumbai. Full benefit of the Sep'25 price hike and lower Brent-linked gas costs, partly offset by slight increase in HH prices, lifted adj EBITDA/scm...

Axis Direct released a Buy report for Mahanagar Gas Ltd. with a price target of 1540.0 on 10 Feb, 2026.

Mahanagar Gas Ltd.

03 Feb 2026

1107.10

-4.00%

Cost pressure easing; valuations attractive

Buy: Mahanagar Gas Ltd.

Target

Motilal Oswal

MAHGL’s stock has corrected 21% in the last six months primarily due to the increased cost of Henry Hub (HH)-linked gas (Oct’25-Jan’26 average: USD4.6/mmbtu vs 1HFY26 average: USD3.1/mmbtu), rupee depreciation (6% YoY in 3QFY26), and the increase in Zone-1 tariff (est. impact of INR0.3/scm), which compressed margins.

Mahanagar Gas Ltd. has an average target of 1477.57 from 7 brokers.

Mahanagar Gas Ltd.

10 Dec 2025

1107.10

-4.00%

Weak margins a dampener, but volume prospects to remain peer-leading over FY26-28E

Buy: Mahanagar Gas Ltd.

Target

ICICI Securities Limited

Mahanagar Gas’ (MGL) EBITDA/scm declined to a 13-quarter low in Q2FY26. We believe margins are likely to remain under pressure due to INR depreciation and a jump in HH (US Henry Hub) prices in Q3FY26 (~30% of sourcing, at USD 5/MMbtu vs. <USD4/MMbtu in Q2).

Number of FII/FPI investors decreased from 343 to 315 in Dec 2025 qtr

Mahanagar Gas Ltd.

25 Nov 2025

1107.10

-4.00%

MAHANAGAR GAS LIMITED

Hold: Mahanagar Gas Ltd.

Recommendation Target

Geojit BNP Paribas

Gas volume rose 9.2% YoY to 4.593 million metric standard cubic metres per day (mmscmd), comprising the supply of 3.255 mmscmd compressed natural gas (CNG; +7.1% YoY) and 0.582 mmscmd domestic piped natural gas (PNG; +9.8%),...

Mahanagar Gas Ltd. is trading below its 100 day SMA of 1182.7

Mahanagar Gas Ltd.

31 Oct 2025

1107.10

-4.00%

Result Update:Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Axis Direct

We maintain our BUY recommendation on the stock.

Mahanagar Gas Ltd. is trading above its 50 day SMA of 1106.3

Mahanagar Gas Ltd.

31 Oct 2025

1107.10

-4.00%

Volume remains strong; multiple factors drive weakest margin in 13 quarters

Buy: Mahanagar Gas Ltd.

Target

ICICI Securities Limited

Mahanagar Gas (MGL) delivered volume growth with a 9% YoY jump in volume to 4.6mmscmd, including UEPL. However, sharply lower APM allocation, INR depreciation and higher spot LNG drove EBITDA/scm to a 13-quarter low.

Mahanagar Gas Ltd. is trading below its 100 day SMA of 1182.7

Mahanagar Gas Ltd.

30 Oct 2025

1107.10

-4.00%

Mahanagar Gas (MAHGL IN) Q2FY26 Result Update Strong...

Buy: Mahanagar Gas Ltd.

Recommendation Target

Prabhudas Lilladhar

Mahanagar Gas Ltd. is trading above its 50 day SMA of 1106.3

Mahanagar Gas Ltd.

30 Oct 2025

1107.10

-4.00%

Mahanagar Gas (HOLD): Below expectation operational performance on higher gas cost

Hold: Mahanagar Gas Ltd.

Target

BOB Capital Markets Ltd.

Lower APM gas allocation led to weak operational performance; EBITDA decreased by 18%YoY

Number of FII/FPI investors decreased from 343 to 315 in Dec 2025 qtr

Mahanagar Gas Ltd.

26 Sep 2025

1107.10

-4.00%

Ahead in volume growth, sustaining resilient margins

Buy: Mahanagar Gas Ltd.

Motilal Oswal

MAHGL is set to deliver robust earnings growth, driven by aggressive CNG network expansion, improving throughput at existing stations, and strategic land tie-ups that strengthen long-term visibility.

Number of FII/FPI investors decreased from 343 to 315 in Dec 2025 qtr

Is Mahanagar Gas Ltd. worth buying?

535 Votes:

Buy 86.54%

Sell 7.66%

Hold 5.79%

RESEARCH REPORTS

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Accumulate SEE REPORTS >

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