Mahanagar Gas - No Red Flags: ICICI Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Maharashtra State Road Transport’s plan to add ~800 new buses, higher conversion run rates of compressed natural gas and stronger price competitiveness versus alternate fuels should drive stronger volume growth going forward. We factor in 5–6% volume growth for Mahanagar Gas Ltd. over the medium term. We see some moderation in margins over the next two-three years, and estimate Ebitda/standard cubic metre of Rs 14.7/13.4/12.7 for FY24/25/26. At its current market price, Mahanagar Gas trades at 9.9 times FY25E and 9.7 times FY26E earnings per share, which is at a steep discount to peers. The current correction provides an attractive opportunity to enter the stock, with our target price of Rs 1,545, implying an 17% upside..Click on the attachment to read the full report:.Prince Pipes - Aquel Acquisition To Enable Better Penetration In Bathware Segment: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Mahanagar Gas - No Red Flags: ICICI Securities

Margins resilient, we do not see material downside risk

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