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'Hold' Mahanagar Gas Shares Maintains Nirmal Bang On Muted Risk-Reward
As per Mahanagar Gas’ guidance in the analyst meet the company plans to boost GA-3 volume to 0.6-0.7 mmscmd in two-three years, adds Nirmal Bang
13 Jun 2025, 02:35 PM IST 
HC order to study ban on polluting vehicles in Mumbai could boost long term CNG growth for Mahanagar Gas.
(Photo Source: Mahanagar Gas website)
Mahanagar Gas is open to acquisitions of new Gas, but the valuation may have to reduce any penalty payable to PNGRB, for not meeting the committed work under MWP. Mahanagar Gas expects geographical areas of smaller sponsors to be potential M&A targets as they may find it tough to scale up the business.
