Mahanagar Gas Ltd

(MGL)

Mahanagar Gas Stock Target Prices Cut Amid Decline - 21 Nov, 2024

Mahanagar Gas, along with other City Gas Distribution stocks, has seen a significant decline of 23% to 43% over the past three months. Target prices for Mahanagar Gas have been reduced by 30-42%, and the stock rating has been downgraded to 'Reduce' from 'Buy'.

Mahanagar Gas Faces Forecast Downgrade Amid Price Cuts - 20 Nov, 2024

Mahanagar Gas has seen a significant stock decline due to government cuts in APM gas allocation, with Emkay Global lowering its RoE forecast to 14% for FY26-27E.

Mahanagar Gas Faces Significant Stock Decline Amid Gas Cuts - 19 Nov, 2024

Mahanagar Gas Ltd. experienced a sharp decline in stock price due to consecutive government cuts in gas allocations, leading to downgrades from multiple brokerages. The cumulative reduction of 36% in gas supply raises concerns over profitability and future growth prospects.

Mahanagar Gas Shares Plummet Amid Price Cuts - 18 Nov, 2024

Mahanagar Gas Ltd faced significant stock declines following a 20% cut in APM allocation, leading to brokerages slashing target prices and EBITDA estimates. Trading volumes surged amid the downturn.

MGL Faces Profitability Challenges from Gas Allocation Cuts - 17 Nov, 2024

Mahanagar Gas Ltd faces significant challenges as the government reduces low-cost natural gas supply by up to 20%. An 18% cut in APM gas allocation will impact profitability. MGL is exploring alternative gas sourcing options to maintain price stability while reporting a profit of Rs 1,300 crore on Rs 7,000 crore revenue.

Mahanagar Gas Faces Pressure from Reduced Gas Allocation - 16 Nov, 2024

Mahanagar Gas Ltd is under pressure as domestic gas allocation from GAIL has been reduced by 13-20%, leading to potential price hikes in Mumbai and Delhi.

Mahanagar Gas Forms JV for Battery Manufacturing - 08 Nov, 2024

Mahanagar Gas Limited has announced a joint venture with International Battery Company to manufacture lithium-ion batteries in India, investing Rs 230 crore for at least a 40% stake. This venture aims to enhance local battery production and competitiveness in the sector.

Mahanagar Gas Benefits from Surge in CNG Registrations - 06 Nov, 2024

Mahanagar Gas Limited's stock outlook improves as CNG vehicle registrations rose significantly in October 2024, with a 60% month-on-month increase in its operational area. A Citi report forecasts a 9-10% expansion in the CNG vehicle base for FY25, indicating strong revenue growth potential.

Mahanagar Gas Faces Profitability Challenges - 04 Nov, 2024

Indraprastha Gas and Mahanagar Gas reported a 20% reduction in APM gas allocation for CNG sales in October 2024, negatively impacting profitability. Nuvama forecasts a 13-22% drop in Mahanagar Gas's EBITDA for the fiscal year.

Mahanagar Gas Faces Downgrade Amid Mixed Earnings - 28 Oct, 2024

Mahanagar Gas Ltd received mixed reviews with Nomura downgrading its rating to Reduce, while Jefferies maintained a Buy rating but cut its target price to Rs 1,740. The company reported Q2 EBITDA in line with estimates, but concerns over margins and policy changes persist.

Mahanagar Gas Faces Decline Amid Weak Q2 Results - 25 Oct, 2024

Mahanagar Gas Limited's shares fell over 3% after reporting a 16.5% decline in Q2 net profit, despite a revenue increase. The board approved a merger with Unison Enviro, but market reaction remained negative.

Mahanagar Gas Reports Decline in Q2 Profit - 24 Oct, 2024

Mahanagar Gas Ltd. announced a 16.5% year-on-year decline in net profit for Q2 FY25 to ₹283 crore, despite an 8.6% increase in revenue. Rising operational costs, particularly natural gas prices, impacted profitability. The company also reported a 2% decline in profit quarter-on-quarter and approved a merger with its subsidiary to optimize costs.