Buy Mahanagar Gas, target price Rs 1565: Motilal Oswal

economictimes.indiatimes.com:

Mahanagar Gas with a target price of Rs 1565. The current market price of Mahanagar Gas Ltd. is Rs 1435.55.

Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 13641.71 Crore) operating in Gas & Petroleum sector.

Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural, Other Operating Revenue and Pipes & Fittings for the year ending 31-Mar-2022.

Financials For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 1656.74 Crore, up 2.47 % from last quarter Total Income of Rs 1616.83 Crore and up .77 % from last year same quarter Total Income of Rs 1644.12 Crore. Company reported net profit after tax of Rs 252.26 Crore in latest quarter.

Promoter/FII Holdings Promoters held 32.5 per cent stake in the company as of 31-Mar-2024, while FIIs owned 30.54 per cent, DIIs 17.4 per cent.