MGL stock check: Over the past three months, shares of Mahanagar Gas Ltd. (MGL), a city gas distributor (CGD), have increased by 31%, outperforming the 30-share BSE Sensex by about 22%.
Compared to the Nifty 50, which returned 7.44 percent during the same period, MGL gave investors returns of 19.93 percent over the past three months. Strong volume growth will keep the stock price outperforming, predicts domestic brokerage HDFC Securities.
On Tuesday, shares of MGL opened at ₹1,950 and hit an intra day high of ₹1,950 against a 52-week high of ₹1,988.55 before settling 1.40 per cent lower at ₹1,914.35 apiece on the BSE. The natural gas distributor commands a market capitalization of ₹18,909.52 crore and a turnover of ₹3.21 crore.
In the first quarter of fiscal 2025, MGL’s net profit increased 7.4% YoY to ₹285 crore from ₹265 crore during the same period the previous year. Revenue for the CGD increased 1.5% to ₹1,590 from ₹1,567 crore in the same period last year. 3.859 million metric standard cubic meters were sold every day during the quarter, a 2.1% increase over the previous quarter.
MGL is a distribution firm for natural gas that was founded in 1995. The Maharashtra government and MahaRatna GAIL (India) Limited, formerly known as Gas Authority of India Limited, are the owners of MGL. MGL purchases natural gas for its residential and commercial clients from a wide range of providers.