Mahanagar Gas share price: Buy Mahanagar Gas, target price Rs 1230: Yes Securities

Sure Securities has purchase name on with a goal value of Rs 1230. The present market value of Mahanagar Gasoline Ltd. is Rs 1160.7.

Mahanagar Gasoline Ltd., included within the 12 months 1995, is a Mid Cap firm (having a market cap of Rs 11467.61 Crore) working in Gasoline & Petroleum sector.

For the quarter ended 31-12-2020, the corporate reported a Standalone Whole Revenue of Rs 686.79 Crore, up 21.05 % from final quarter Whole Revenue of Rs 567.38 Crore and down -18.98 % from final 12 months similar quarter Whole Revenue of Rs 847.64 Crore. Firm reported web revenue after tax of Rs 217.21 Crore in newest quarter.

Funding Rationale
After shedding 14% from the current excessive, bulls outstripped bear close to Rs 1,100 zone and restoration thereafter was swift, suggesting a right away flooring close to Rs 1,110. Sustenance above the identical might maintain the near-term outlook constructive.

Promoter/FII Holdings
Promoters held 46.9 per cent stake within the firm as of Dec 30, 2020, whereas FIIs held 19 per cent, DIIs 21.four per cent and public and different 12.eight per cent.

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