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Mahanagar Gas shares up 8% as Jefferies upgrades rating to 'buy'; sees solid margin visibility, growth volume in 2HFY24
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Mahanagar Gas share price surged over 8% on Tuesday's trading session after global brokerage Jefferies upgraded Mahanagar Gas stock with 'buy' rating from 'hold'. Jefferies forecasts a 31% increase from the Mahanagar Gas stock's closing price of ₹1,010.35 on September 28.
Jefferies has also revised Mahanagar Gas share price target to ₹1,320 from ₹1,100, up 20%. In its research report, Jefferies stated that increased earnings visibility and a favourable risk-reward profile led to the global brokerage's decision to upgrade the Mahanagar Gas stock.
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