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Optimism in natural gas distribution co MGL's stock appears fully priced in

MGL distributes gas through an extensive CGD network of pipelines, and supplies CNG to 0.77 million vehicles and PNG to 1.53 million domestic households

Mahanagar Gas Limited (MGL)

Mahanagar Gas (MGL)

Devangshu Datta Mumbai

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Mahanagar Gas (MGL) has just hiked prices for compressed natural gas (CNG) and domestic piped natural gas (PNG) in the Mumbai Metro Area. The distributor raised prices by Rs 1.50 per kilogramme (kg) for CNG, bringing the price up to Rs 75 per kg, including taxes. Domestic PNG prices were hiked from Rs 1 per standard cubic meter (SCM) to Rs 48 per SCM, inclusive of taxes.

MGL also hosted its analyst meet in June, highlighting a strong FY24 performance, and gave guidance of a 5-year volume CAGR of 6-7 per cent (standalone) versus 5 per cent

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First Published: Jul 10 2024 | 10:14 PM IST

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