NSE: MGL | BSE: 539957

Falling Comet

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1050.20 0.90 (0.09%)

High volume today

NSE 12 Mar, 2026 3:31 PM (IST)

10,373.6

Market Cap

Above industry Median

Beta 1Year

Average volatility

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

1050.20

0.09%

Result Update:Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Axis Direct

We maintain our BUY rating on the stock.

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

09 Feb 2026

1050.20

0.09%

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...

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

Mahanagar Gas Ltd.

03 Feb 2026

1050.20

0.09%

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. is trading below all available SMAs

Mahanagar Gas Ltd.

10 Dec 2025

1050.20

0.09%

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).

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

25 Nov 2025

1050.20

0.09%

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 at high day volume of 1.9M.

Mahanagar Gas Ltd.

31 Oct 2025

1050.20

0.09%

Result Update:Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Axis Direct

We maintain our BUY recommendation on the stock.

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

Mahanagar Gas Ltd.

31 Oct 2025

1050.20

0.09%

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. has an average target of 1477.57 from 7 brokers.

Mahanagar Gas Ltd.

30 Oct 2025

1050.20

0.09%

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

Buy: Mahanagar Gas Ltd.

Recommendation Target

Prabhudas Lilladhar

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

Mahanagar Gas Ltd.

30 Oct 2025

1050.20

0.09%

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

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

26 Sep 2025

1050.20

0.09%

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?

536 Votes:

Buy 86.57%

Sell 7.65%

Hold 5.78%

RESEARCH REPORTS

Buy SEE REPORTS >

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Accumulate SEE REPORTS >

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