Mahanagar Gas Ltd (MGL)

Mahanagar Gas Plans Smaller CNG Stations for Two-Wheelers - 15 Jul, 2024

Mahanagar Gas is planning to set up smaller CNG stations exclusively for two-wheelers and has nearly 400 fuel stations with another 50 from its subsidiary Unison Enviro. IGL and MGL are expected to see a decline in EBITDA due to a drop in EBITDA per scm margin.

MGL Hikes Prices for CNG and Domestic PNG; Stock Grows in Response to Potential Tax Cuts - 10 Jul, 2024

Mahanagar Gas Ltd raised prices for compressed natural gas (CNG) and domestic piped natural gas (PNG) in the Mumbai Metro Area. Additionally, the stock experienced growth in response to reports speculating on potential tax cuts on CNG. MGL also hosted an analyst meet, highlighting a strong FY24 performance.

Mahanagar Gas Hikes Prices for CNG and PNG in Mumbai - 09 Jul, 2024

Mahanagar Gas has raised the price of CNG by Rs 1.5 per kg and domestic PNG by Rs 1 per SCM in Mumbai, citing increased expenses related to importing natural gas. The stock surged 5% following the announcement.

MGL Stock Sees Target Price Increase and Price Hike Announcement - 08 Jul, 2024

Nuvama Institutional Equities has raised the target price for MGL by up to 17%, while MGL announced a hike in CNG and domestic PNG prices in Mumbai and surrounding areas due to rising input costs.

Mahanagar Gas Shares Gain on Price Reduction and Sales Volume Increase - 02 Jul, 2024

Mahanagar Gas Limited (MGL) shares have gained 35% in a month and hit a 52-week high after OMCs reduced commercial LPG gas prices by ₹30. The reduction is expected to increase demand for natural gas supplied by city gas distribution companies such as MGL, leading to improved financial performance and profitability. Despite future earnings estimates indicating diminished returns, MGL's P/E ratio of 13.5x still makes it an attractive investment option.

Mahanagar Gas Witnesses Surge in Volume and Stock Price - 28 Jun, 2024

Mahanagar Gas Ltd's stock price increased by 6.53% to Rs.1,601.60 as it witnessed a 6.02 times surge in trading volume with 33.03 lakh shares traded on NSE.

Bajaj Auto to Launch World's First CNG Motorcycle - 25 Jun, 2024

Bajaj Auto is set to launch the world's first CNG motorcycle on July 5, with an initial production capacity of 20,000 units per month in Maharashtra. Mahanagar Gas Ltd (MGL) could be an early beneficiary, with a potential 2%+ CNG volume gain by FY26E according to Nuvama. However, changes in domestic gas allocation and reliance on expensive imports could hurt margins.

Mahanagar Gas Ltd. Could Benefit from Bajaj Auto's CNG Motorcycle Launch - 24 Jun, 2024

According to Nuvama Research, Mahanagar Gas Ltd. (MGL) could see a 2% increase in its CNG volumes by the next fiscal year due to Bajaj Auto's launch of the world's first compressed-natural-gas-powered motorcycle. MGL is one of India's largest city gas companies and has over 23 years of experience supplying natural gas in Mumbai and surrounding areas.