Optimism in MGL stock appears fully priced in
Business Standard|July 11, 2024
Mahanagar Gas (MGL) has just hiked prices for compressed natural gas (CNG) and domestic piped natural gas (PNG) in the Mumbai Metro Area.
DEVANGSHU DATTA
Optimism in MGL stock appears fully priced in

The distributor raised prices by ₹1.50 per kilogramme (kg) for CNG, bringing the price up to ₹75 per kg, including taxes. Domestic PNG prices were hiked from ₹1 per standard cubic meter (SCM) to ₹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 during FY19-24 and around 10 per cent CAGR for recently acquired subsidiary Unison Enviro Private Limited (UEPL). The management indicated a focus on infrastructure creation with a capex target of ₹1,000 crore for FY25, split between standalone and UEPL at ₹800 crore and ₹200 crore, respectively. APM (administered pricing mechanism) based gas allocation is around 70 per cent of priority volume now and the shortfall is met via HP-HT gas.

هذه القصة مأخوذة من طبعة July 11, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة July 11, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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