The performance of city gas distribution companies in 4QFY23 was mixed. While the stocks of Gujarat Gas and Mahanagar Gas have managed to clock positive returns, stocks of Indraprastha Gas and Adani Gas have been underperformers.

Mixed performance by city gas companies; outlook positive

Based on the OI percentage, 74 stocks, including Colgate Palmolive, Ashok Leyland, Can Fin Homes, SBI Card, and Mahanagar Gas saw long build-ups.

Trade setup for today: Top 15 things to know before the opening bell

Motilal Oswal is bullish on Mahanagar Gas recommended buy rating on the stock with a target price of Rs 1250 in its research report dated May 09, 2023.

Buy Mahanagar Gas; target of Rs 1250: Motilal Oswal

YES Securities recommended Neutral rating on Mahanagar Gas with a target price of Rs 1020 in its research report dated May 10, 2023.

Neutral Mahanagar Gas; target of Rs 1020: YES Securities

The city gas distribution company reported a net profit of Rs 790 crore in FY23, 32 percent higher than Rs 596 crore in the previous year

Mahanagar Gas expects volume growth of 5-6% in FY24: MD

Larsen and Toubro reported Q4 FY23 revenue/Ebitda/adjusted profit after tax at Rs 583.4/68.3/39.9 billion, inline with estimates.

L&T, SRF, Apollo Tyres, Nuvoco Vista, Birla Corp, Mahanagar Gas & More Q4 Results Review: HDFC Securities

Mahanagar Gas’ Ashu Shinghal decodes their fourth-quarter numbers and shares outlook for the company going forward. #BQLive  

--------------------------------------------------------------------------------------------------------------------
For more videos subscribe to our channel: http://bit.ly/32JXa74
Visit BQ Prime for more news: https://www.bqprime.com/
Don't enter the stock market unaware. Read all Research Reports here: https://www.bqprime.com/research-reports
For the latest business news and analysis
Subscribe to our Newsletters here: https://www.bqprime.com/my-bq/newsletter
Subscribe to our Telegram channel: https://t.me/BQPrime
Follow BQ Prime here
Twitter: https://twitter.com/bqprime
Facebook: https://www.facebook.com/BQPrime/
LinkedIn: https://www.linkedin.com/company/13184554/
Instagram: https://www.instagram.com/bqprime/
Pinterest: https://in.pinterest.com/BQPrimeNews/

Q4 Review: Strong March Quarter For Mahanagar Gas, Profit Beat Estimates | BQ Prime

Mahanagar Gas Standalone March 2023 Net Sales at Rs 1,610.48 crore, up 35.61% Y-o-Y

Mahanagar Gas: JM Financial said Mahanagar Gas’ Ebitda for the quarter was significantly higher than its estimate of Rs 290 crore and consensus estimate of Rs 310 crore due to sharper-than-expected jump in margin.

Mahanagar Gas shares hit 52-week high on Q4 results, dividend announcement; here are stock price targets

Sensex Today: The Sensex and Nifty benchmark indices opened on a quite note on Tuesday amid tepid moves across global markets.

Sensex Ends Flat, Nifty Below 18,300; Mahanagar Gas Gains 7%, Zomato Dips 6%

The board recommended a final dividend of Rs 16 per equity share having face value of Rs 10 each (i.e. 160 per cent) for FY23.

Mahanagar Gas hits 52-week high; soars 7% on margin improvement in Q4

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Mahanagar Gas Limited is a natural gas distribution company. The Company is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its adjoining areas.