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Last Updated : Aug 22, 2019 03:43 PM IST | Source: Moneycontrol.com

Accumulate Mahanagar Gas; target of Rs 985: Dolat Capital

Dolat Capital recommended accumulate rating on Mahanagar Gas with a target price of Rs 985 in its research report dated August 21, 2019.

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Dolat Capital's research report on Mahanagar Gas


MGL is an excellent cash annuity model with decent dividend yield. Promoter offloading some stake has weighed down on the valuations, however, the uncertainty of around this is over by BG Asia selling off their remaining 10 pc stake (complete exit) as markets have reacted positively to the news. We structurally like MGL as there is improvement in their operational performance. MGL has lesser GA’s than its peers but their profitability is higher than its peers.


Outlook


With volume outlook looking stable and spreads likely to sustain, outlook gets better. Based on DCF valuation, we maintain our Accumulate rating with a target price of ` 985.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




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First Published on Aug 22, 2019 03:43 pm
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