Dolat Capital recommended accumulate rating on Mahanagar Gas with a target price of Rs 1007 in its research report dated September 02, 2020.
Dolat Capital's research report on Mahanagar Gas
MGL reiterates its position as a trusted natural gas supplier, it remains steadfast to further expand and extend green footprints far and wide, taking strides to responsibly fuel India. During the Pandemic MGL strived to ensure that all customers who need natural gas have an uninterrupted access to the same and they have proactively geared itself to sustain its business in this situation and is firmly on the way to recovery towards Pre-Covid levels. While there is ample scope for growing the business of MGL organically in its currently authorized GA’s, they are continuously looking out for inorganic growth opportunities. Favourable regulatory environment, Government’s initiative to replace LPG connections with PNG in urban areas, increased availability of CNG filling facilities, replacement of polluting fuels with natural gas in industrial sector, are likely momentum to in the CGD sector.
Outlook
MGL top priority will be expanding their core operations in the existing license areas of Mumbai and adjoining areas as well as in Raigad district. These areas have large untapped opportunities and offer good potential for long term growth.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More