Buy Mahanagar Gas, target price Rs 1290: Motilal Oswal

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Buy Mahanagar Gas, target price Rs 1290:  Motilal Oswal


Motilal Oswal has buy call on with a target price of Rs 1290. The current market price of Mahanagar Gas Ltd. is Rs 1091.7.

Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 10835.92 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 686.79 Crore, up 21.05 % from last quarter Total Income of Rs 567.38 Crore and down -18.98 % from last year same quarter Total Income of Rs 847.64 Crore. Company reported net profit after tax of Rs 217.21 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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