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Hold Mahanagar Gas; target of Rs 820: ICICI Direct

ICICI Direct recommended hold rating on Mahanagar Gas with a target price of Rs 820 in its research report dated May 13, 2022.

May 14, 2022 / 01:53 PM IST
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ICICI Direct's research report on Mahanagar Gas

Mahanagar Gas (MGL) is a city gas distribution company and operates in Mumbai, its adjoining areas and Raigad district, Maharashtra. CNG sales contribute more than 70% of its total sales volume • It has historically reported high gross margins and return ratios.


We retain our HOLD rating on the stock. We value MGL at Rs 820 i.e. ~10x P/E on FY24E EPS.


For all recommendations report, click here

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Broker Research
first published: May 14, 2022 01:53 pm
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