External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We attended the Mahanagar Gas (MGL) Analyst Meet on 6 June 2025.</li><li>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 GAs, investments in expansion of CNG/D-PNG infrastructure, and various promotional activities undertaken across segments to boost gas consumption.</li><li>(2) Current gas sourcing split is as follows, 1.65mmscmd of APM gas, 0.5mmscmd each of HPHT and NWG, 1.5mmscmd HH linked contracts and 0.1mmscmd Brent-linked contracts. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We attended the Mahanagar Gas (MGL) Analyst Meet on 6 June 2025.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 GAs, investments in expansion of CNG/D-PNG infrastructure, and various promotional activities undertaken across segments to boost gas consumption.(2) Current gas sourcing split is as follows, 1.65mmscmd of APM gas, 0.5mmscmd each of HPHT and NWG, 1.5mmscmd HH linked contracts and 0.1mmscmd Brent-linked contracts. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahanagar Gas: Focused on volume growth. Maintain BUY