Moneycontrol
Feb 14, 2018 12:07 PM IST | Source: Moneycontrol.com

Mahanagar Gas up 4%; CLSA retains buy, target cut to Rs 1,380

According to CLSA the volume growth has offset by margin miss. It cut FY18-20 EPS estimates by 8-9 percent.

 
 
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Shares of Mahanagar Gas added nearly 4 percent intraday Wednesday as broking house CLSA retained buy rating with a target of Rs 1,380 per share.

According to CLSA the volume growth has offset by margin miss. It cut FY18-20 EPS estimates by 8-9 percent.

The company reported Q3 net profit of Rs 123.98 crore from Rs 99 crore in the same quarter last year, a growth of 25 percent.

It has declared an interim dividend of Rs 8 per equity share (i.e. 80 percent) for the financial year 2017-18.

At 12:04 hrs Mahanagar Gas was quoting at Rs 1,046, up Rs 16.10, or 1.56 percent on the BSE.

Posted by Rakesh Patil
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