Mahanagar Gas share price: Add Mahanagar Gas, target price Rs 1280: HDFC Securities

HDFC Securities has add call on with a target price of Rs 1280. The current market price of Mahanagar Gas Ltd. is Rs 1096.15.

Time period given by analyst is one year when Mahanagar Gas Ltd. price can reach defined target.

Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 10748.50 Crore) operating in Gas & Petroleum sector.

Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural, Other Operating Revenue and Pipes & Fittings for the year ending 31-Mar-2019.

Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 685.47 Crore, down -14.45 % from last quarter Total Income of Rs 801.21 Crore and up 126.98 % from last year same quarter Total Income of Rs 301.99 Crore. Company reported net profit after tax of Rs 204.08 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 32.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 25.6 per cent, DIIs 30.1 per cent and public and others 11.8 per cent.

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