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Mahanagar Gas Q3 Review — Strong Result Amid Tough Conditions; Systematix Upgrades The Stock To 'Buy'
Due to the sharp correction, the brokerage upgrades the stock to a Buy from earlier Hold with a revised target price of Rs 1,573 from earlier Rs 1,680 based on PER of 13x FY26E.
30 Jan 2025, 10:19 AM IST 
Mahanagar Gas’ net profit declined 29% YoY to Rs 2.25 billion, better than estimate of Rs 2.0 billion.
(Photo source: Company website)
Mahanagar Gas’ growth strategy focuses on expanding customer conversions, optimizing sourcing, and enhancing infrastructure.
