NSE: MGL | BSE: 539957

Mid-range Performer

Download real time

1357.80 23.20 (1.74%)

31.70% Fall from 52W High

402.0K NSE+BSE Volume

NSE 28 May, 2025 3:31 PM (IST)

13,412

Market Cap

Above industry Median

1.3

Beta 1Year

Very High 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.

Mahanagar Gas Ltd.

26 May 2021

1357.80

1.74%

Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Target

ICICI Securities Limited

MGL reported volume growth of 3.8% YoY on a lower base. CNG volume grew 2.2% YoY to 2 mmscmd in line with estimate. On the PNG front, volumes grew 7.9% YoY to 0.9 mmscmd. While industrial and domestic PNG segments reported growth of 21.7% YoY, 8.9% YoY, commercial PNG volumes were still down 11.6% YoY. Given the cost economics of natural gas over other alternative fuels in conjunction with rising pollution concerns, achieving higher growth over the long term should not be a concern. The management said that CNG sales volume dipped up to 25-30% in the current...

Mahanagar Gas Ltd. is trading below its 200 day SMA of 1451.0

Mahanagar Gas Ltd.

02 May 2021

1357.80

1.74%

Pick of the Week - MGL

Buy: Mahanagar Gas Ltd.

Target

Edelweiss

MGL is one of the largest city gas companies in India

Mahanagar Gas Ltd. is trading above its 150 day SMA of 1320.1

Mahanagar Gas Ltd.

17 Feb 2021

1357.80

1.74%

MAHANAGAR GAS LIMITED

Buy: Mahanagar Gas Ltd.

Target

Geojit BNP Paribas

Q3FY21 revenue fell 11.2% YoY to Rs. 727cr (+32.5% QoQ) owing to drop in volumes by 9.2% YoY to ~254.9 Standard Cubic Meter (SCMmn). Blended volume stood at 2.77MMSCMD as demand for CNG strengthened post lockdown to 1.88MMSCMD - 62% of total volume (vs. 1.28MMSCMD in Q2FY21) while PNG volume stood at ~0.51MMSCMD in Q3FY21. MGL witnessed significant volume recovery trend with an increase of 33.6% in overall sales volume vs. Q2FY21. CNG and PNG Industry/ Commercial volumes down 15.3% /9.0% YoY, respectively, with commercial activities not resuming full-fledged whereas Domestic PNG rose 23.5% YoY with increasing *over or under performance to benchmark index...

Mahanagar Gas Ltd. has an average target of 1840.40 from 6 brokers.

Mahanagar Gas Ltd.

12 Feb 2021

1357.80

1.74%

Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Recommendation Target

ICICI Securities Limited

MGL reported volume de-growth of 9.2% YoY as demand is yet to fully recover. CNG volume de-grew 15.3% YoY (our estimate: 5.6%) to 1.9 mmscmd. On the PNG front, volumes grew 7.2% YoY to 0.9 mmscmd driven by robust domestic PNG demand. While industrial and domestic PNG segments reported growth of 6.1% YoY and 23.5% YoY, commercial PNG volumes were still down 27.7% YoY. Given the cost economics of natural gas over other alternative fuels in conjunction with rising pollution concerns having higher growth rate over the long term should not be a concern. The...

Mahanagar Gas Ltd. is trading below its 200 day SMA of 1451.0

Mahanagar Gas Ltd.

24 Nov 2020

1357.80

1.74%

MAHANAGAR GAS LIMITED

Buy: Mahanagar Gas Ltd.

Target

Geojit BNP Paribas

Revenue for Q2FY21 dropped 36.3% YoY to Rs. 549cr primarily as volumes shrank 30.9% YoY to 190.7 Standard Cubic Meter (SCMmn). CNG and PNG Industry/ Commercial volumes declined by 42.0%/19.9% YoY, respectively, as lockdown and transport restrictions extended whereas Domestic PNG increased 21.6% YoY. Despite the impact of COVID-19 during the quarter, MGL achieved a growth in volumes QoQ. Blended volume stood at 2.07SCMmn, led by a strong demand recovery in CNG segment post lockdown (1.28SCMmn - 62% of total volume). Witnessed recovery at 90-95% of pre-COVID levels in Nov'20 as commercial activities gradually kicked off. PNG...

Mahanagar Gas Ltd. has an average target of 1840.40 from 6 brokers.

Mahanagar Gas Ltd.

02 Sep 2020

1357.80

1.74%

Mahanagar Gas

Hold: Mahanagar Gas Ltd.

Recommendation Target

Dolat Capital

MGL reiterates its position as a trusted natural gas supplier, it remains steadfast to further expand and extend green footprints far and wide, taking strides to responsibly fuel India. During the Pandemic MGL strived to ensure that all customers who need natural gas have an uninterrupted access to the same and they have proactively geared itself to sustain its business in this situation and is firmly on the way to recovery towards PreCovid levels. While there is ample scope for growing the business of MGL organically in its currently authorized GA's, they are continuously looking out for inorganic growth opportunities. Favourable regulatory...

Mahanagar Gas Ltd. is trading below its 200 day SMA of 1451.0

Mahanagar Gas Ltd.

24 Aug 2020

1357.80

1.74%

Pick of the Week - Mahanagar Gas Limited

Buy: Mahanagar Gas Ltd.

Edelweiss

MGL is one of the largest city gas companies in India with over 23 years of...

Mahanagar Gas Ltd. is trading below its 200 day SMA of 1451.0

Mahanagar Gas Ltd.

13 Aug 2020

1357.80

1.74%

MAHANAGAR GAS LIMITED

Buy: Mahanagar Gas Ltd.

Target

Geojit BNP Paribas

Considering government's expansion plan in CNG sector and company's growth in Compressed Gas Distribution (CGD), we are positive on company's outlook, and reiterate our BUY rating on the stock with a...

Mahanagar Gas Ltd. has an average target of 1840.40 from 6 brokers.

Is Mahanagar Gas Ltd. worth buying?

515 Votes:

Buy 86.41%

Sell 7.77%

Hold 5.83%

RESEARCH REPORTS

Buy SEE REPORTS >

pdf

Accumulate SEE REPORTS >

pdf