Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 10701.09 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 30-09-2020, the company reported a Standalone sales of Rs 548.95 Crore, up 97.84 % from last quarter Sales of Rs 277.47 Crore and down -29.94 % from last year same quarter Sales of Rs 783.58 Crore Company reported net profit after tax of Rs 144.34 Crore in latest quarter.
Investment Rationale
has formed a higher swing bottom at Rs 1,030 against Rs 1,015. The stock has also given a follow through to this higher swing bottom. A close above Rs 1,090 would give further momentum to test levels of Rs 1,120-1,150.
Promoter/FII Holdings
Promoters held 54.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 12.2 per cent, DIIs 20.8 per cent and public and others 12.5 per cent.
