Name: Latest research reports of Mahanagar Gas Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Mahanagar Gas Ltd.
Rating: 5
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	12 Sep 2025	Mahanagar Gas	Consensus Share Price Target	1302.70	1550.69	-	19.04	buy	pdf Detailed Estimates
	14 Nov 2022	Mahanagar Gas	ICICI Securities Limited Target	1302.70	1025.00	876.05 (48.70%)	Target met	Buy	pdf post cache	Broker Report Volumes stay resilient, margins likely to improve ICICI Securities Limited Mahanagar Gas (MGL) reported its Q2FY23 EBITDA at Rs2.53bn (down 16% YoY, 11.5% QoQ) vs our estimate of Rs3.1bn. Adjusted PAT dipped 19.7% YoY (down 11.5% QoQ) to Rs1.64bn (I-Sec: Rs2bn). pdf Copy Link Share on Share on Share on Share on Alert
	14 Nov 2022	Mahanagar Gas	Motilal Oswal Target	1302.70	1025.00	899.75 (44.78%)	Target met	Buy	pdf post cache	Broker Report Higher gas cost weighs in on lower profitability Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	10 Aug 2022	Mahanagar Gas	Bonanza	1302.70	950.00	812.30 (60.37%)		Buy	pdf post cache	Broker Report Techno Funda Bonanza In India, the market for Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) is quickly expanding as gas is used in a variety of industrial functions. Despite this, the natural gas percentage in India’s energy mix is one of the lowest in the world. This provides MGL with significant potential for growth in terms of market penetration. pdf Copy Link Share on Share on Share on Share on Alert
	10 Aug 2022	Mahanagar Gas	ICICI Direct	1302.70	850.00	812.30 (60.37%)	Target met	Hold	pdf post cache	Broker Report Mahanagar Gas ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	10 Aug 2022	Mahanagar Gas	Bonanza	1302.70	950.00	812.30 (60.37%)	Target met	Buy	pdf post cache	Broker Report MGL has made a double bottom at 700 level Bonanza In India, the market for Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) is quickly expanding as gas is used in a variety of industrial functions. pdf Copy Link Share on Share on Share on Share on Alert
	09 Aug 2022	Mahanagar Gas	Prabhudas Lilladhar	1302.70	1103.00	812.30 (60.37%)	Target met	Buy	pdf post cache	Broker Report MAHANAGAR GAS LTD. Prabhudas Lilladhar pdf Copy Link Share on Share on Share on Share on Alert
	08 Aug 2022	Mahanagar Gas	ICICI Securities Limited Reco Target	1302.70	980.00	785.20 (65.91%)	Target met	Buy	pdf post cache	Broker Report Strong volumes, resilient margins ICICI Securities Limited Mahanagar Gas (MGL) reported its Q1FY23 EBITDA at Rs2.86bn (down 6% YoY, up 32.5% QoQ) vs our estimate of Rs 3bn. pdf Copy Link Share on Share on Share on Share on Alert
	07 Aug 2022	Mahanagar Gas	Motilal Oswal Target	1302.70	951.00	817.70 (59.31%)	Target met	Buy	pdf post cache	Broker Report Margin pressures persist; volumes at a record high Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	11 May 2022	Mahanagar Gas	Prabhudas Lilladhar Target	1302.70	1103.00	748.15 (74.12%)		Buy	pdf post cache	Broker Report MAHANAGAR GAS LTD. Prabhudas Lilladhar pdf Copy Link Share on Share on Share on Share on Alert
	04 May 2022	Mahanagar Gas	CD Equisearch Target	1302.70	1012.00	766.30 (70.00%)	Target met	Buy	pdf post cache	Broker Report Mahanagar Gas Ltd CD Equisearch pdf Copy Link Share on Share on Share on Share on Alert
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34.47% Fall from 52W High

Mahanagar Gas Ltd. share price target

Mahanagar Gas Ltd. has an average share price target of 1562.50. The consensus estimate represents an upside of 19.94% from the last price of 1302.70. View 12 reports from 6 analysts offering long-term price targets for Mahanagar Gas Ltd..

Volumes stay resilient, margins likely to improve

Higher gas cost weighs in on lower profitability

Techno Funda

Mahanagar Gas

MGL has made a double bottom at 700 level

MAHANAGAR GAS LTD.

Strong volumes, resilient margins

Margin pressures persist; volumes at a record high

MAHANAGAR GAS LTD.

Mahanagar Gas Ltd

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