Mahanagar Gas Ltd up by 8.80 percent | Espresso

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Espresso Shot of the Day - Mahanagar Gas Ltd up by 8.80 percent

March 06, 2023
Espresso Shot of the Day - Mahanagar Gas Ltd up by 8.80 percent

MAHANAGAR GAS LTD 986.35 (+8.80%) BSE – INE002S01010 | 06th  March 2023

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Mahanagar Gas Limited (MGL) is one of India’s leading natural gas distribution companies. Established in 1995 with GAIL (India) Ltd. as its promoter. MGL has to its credit the distinction of pioneering the natural gas distribution network in the metropolis of Mumbai and its neighbouring areas. Today, MGL has over 16.5 lakh domestic PNG customers and more than 4000 commercial and industrial customers. MGL also supplies CNG to more than 8 lakh vehicles which include public as well as private transport vehicles. MGL has all the resources and competencies required from concept to commissioning of gas distribution networks available in-house. MGL is a professional organization managed by highly skilled workforce of about 500 young energetic, technical and managerial professionals.


Recent Drivers

  • On March 6,2023, Mahanagar Gas Ltd said it will acquire 100% stake in Unison Enviro ('UEPL') for 531 crores. This acquisition will enable MGL to expand to newer geographical areas in Maharashtra.
  • On February 2,2023, the company reported a quarterly net profit of Rs.172.07 crores in December 2022, up 202.99% from the Rs.56.79 crores reported in December 2021
  • On February 2,2023, the company reported a quarterly net sale of 1,838.44 crores in December 2022, up 63.72% from the Rs. 1,122.89 crores reported in December 2021.
  • On February 2,2023, the company declared an interim dividend of Rs.10/- per equity share having a face value of Rs.10/- each (i.e., 100%) for the Financial Year 2022-2023.

           

        (Sources: Exchange, Money control, Business Standard)­


Technical Force*

  • S&P BSE500 month till date gain by 2.51%.
  • 3 months avg. NSE volume: 374,727
  • Quantity traded: 2,04,240| Deliverable quantity: 37,238 (18.23%).
  • Stock price jumped by more than 130 % from a one-year low level: 666.35 (June 20, 2022)
  • Daily RSI (14) is near overbought territory today.
  • 52-week-high: 990 | 52-week-low: 666.35


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

1212.27

1068.63

953.62

809.98

694.97

551.33

436.32

-

Fibonacci Pivot

1068.63

969.83

908.79

869.47

809.98

750.49

711.18

650.14

551.33


Today’s Close

986.35

SMA

BSE

10 DAY

899.75

20 DAY

898.01

50 DAY

874.81

200 DAY

837.19


Some Key Ratios (Source: BSE)

Market Cap:  9,742.95 Crores

PE: 14.92

OPM%: 15.68

ROE%:  17.20

Promoters holding%: 32.50

Prev. Close:  906.60


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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.