Mahanagar Gas Ltd - Margins Contract, Volume Growth Remains Robust
EBITDA Contracts due to Higher Fuel Costs: The company’s EBITDA/scm was down 25%/35% YoY/QoQ to Rs 8/scm mainly led by higher gas cost.
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Mahanagar Gas Ltd - Robust Fundamentals at Attractive Valuation; Initiate with BUY
We initiate coverage on Mahanagar Gas Limited (MGL) with a BUY recommendation and a target price of Rs 1,540/share, implying a potential upside of...
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Mahanagar Gas: Focused on volume growth. Maintain BUY
Following are the key takeaways: (1) volume growth for the next 2-3 years is expected to be in double digits on the back of higher volumes from new...
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Mahanagar Gas: Strong CNG vehicle registrations to drive volumes. Maintain BUY
Going ahead, we expect (i) MGL to replace expensive spot gas purchases with cheaper HPHT domestic gas, (ii) continued strong CNG vehicle...
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Axis Top Picks for the month of December 2025
Strong 1500+ points Rally in Nifty 50 since Oct’25: After seeing some pullback in Jul/Aug’25, a broad-based recovery was seen since Oct’25.
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