Latest news with #MGL
Time of India
2 days ago
- Business
- Time of India
Top stocks to buy today: Stock recommendations for June 19, 2025
Top stocks to buy today (AI image) Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, Kaynes, Mahanagar Gas Limited (MGL), and Gland Pharma are the top buy calls for today. Here's his view on Nifty, Bank Nifty and the top stock picks for June 19, 2025: Index View: Nifty Nifty has again entered a consolidation zone after defending to break below its support of 24650 in Friday's trading session. Index view continues to show signs of remaining within this range of 24650 - 25050. Unless a closing on either side of this range is not confirmed - Nifty can remain rangebound post which a 500 pt directional trade opens in the direction on breakout. A firm direction can be seen as a reaction to US Fed policy outcome. Bank Nifty Bank Nifty as well inched towards the higher end of its developed range between 55400 - 56200. This is in sync with Nifty as the index managed to hold its neck above the support of 55400-55500 in last week's closing. Breakout on either side is likely to push for a 1000 pt move. KAYNES (BUY): LCP: 5714 Stop Loss: 5360 Target: 6100 KAYNES is showing early signs of reversal from its 200 DMA support after a recent 20% correction witnessed in last one month. This support is also insync with a 50% retracement seen between rally of February lows to highs of May 2025. Charts suggest a 10-15% rally unfolding in short term. MGL (BUY): LCP: 1421 Stop Loss: 1390 Target: 1520 Seven month high closing has been witnessed on charts of MGL along with a breakout above its 200DMA. This is marking an end to a 6 month sideways trend observed on the stock for a quick breather rally northwards suggesting 6-8% higher targets. GLAND (BUY) : LCP : 1735 Stop Loss : 1685 Target : 1900 Stock has given a 10 month sloping trendline breakout earlier this week. This being clubbed with a higher low formation on weekly charts on a wider 2 year timeframe. Momentum likely to pick up on closing above 1770 and nearest target is seen at its long term resistance of 1900 on charts. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
4 days ago
- Business
- Business Standard
Mahanagar Gas top pick among CGDs, Gujarat Gas least preferred: Nomura
Nomura on CGDs: Japan-based brokerage Nomura has reiterated its bullish view on Mahanagar Gas Ltd (MGL), upgrading the stock to 'Buy' from 'Neutral' and naming it the top pick among city gas distributors (CGDs). The upgrade is driven by MGL's robust volume growth outlook, limited exposure to the volatile industrial and commercial (I&C) segment, and attractive valuation. The target price has also been raised to ₹1,680 from ₹1,345 earlier. 'We prefer Mahanagar Gas (MAHGL IN, Buy) due to its highest expected volume growth among peers, limited exposure to volatile industrial and commercial (I&C) segments, and attractive valuation compared to peers. MGL is also better placed than IGL on EV-related regulatory challenges, in our view,' said Bineet Banka, research analyst at Nomura, in a note dated June 16. In contrast, Nomura has maintained a 'Reduce' rating on Gujarat Gas Ltd (GGL), citing intense competition in the I&C space, subdued volume growth prospects, and constrained pricing power. The target price for GGL has been cut to ₹406 from ₹470. For Indraprastha Gas Ltd (IGL), Nomura retained a 'Neutral' rating, with a revised target price of ₹210, up from ₹199. On the bourses, around 10:15 AM, Mahanagar Gas was trading 1.68 per cent higher at ₹1,413; Indraprastha Gas was down 0.38 per cent at ₹211.45; and Gujarat Gas was trading 0.45 per cent higher at ₹480.40. While the recent 18-20 per cent cut in Administered Price Mechanism (APM) gas allocation has emerged as a short-term headwind for CGDs, Nomura noted that companies have already initiated moderate price hikes of over 2 per cent in both the compressed natural gas (CNG) and domestic piped natural gas (PNG) segments to offset the shortfall. Among the three key players, Indraprastha Gas Ltd (IGL) has been most affected due to its high CNG exposure (about 73 per cent of sales). MGL, with a relatively balanced portfolio, is seen managing the disruption more effectively. GGL, on the other hand, has limited exposure (about 44 per cent) to the priority sectors impacted by APM cuts but faces its own set of challenges. Its considerable presence in the I&C segment (about 56 per cent of total volumes) is under pressure from low-cost propane, especially in Gujarat's Morbi ceramics cluster. With CNG adoption in new vehicles already high at around 31 per cent in the state—compared to 22 per cent in Delhi and Maharashtra—GGL also has limited headroom for growth in the CNG business. Catch Stock Market Updates Today LIVE State EV policies to weigh on CNG growth Nomura flagged policy developments around electric vehicles (EVs) as another important trend impacting the sector. While Delhi and Mumbai continue to tighten their EV policies to combat air pollution, MGL is seen as better positioned than IGL to navigate this transition. Mumbai's comparatively lower air pollution levels, combined with a policy focus that may initially target liquid fuels over CNG, could offer a temporary reprieve for MGL. Moreover, MGL's representation in the Maharashtra High Court-monitored EV committee indicates its proactive approach, with the management optimistic about CNG's role under the new state EV policy. Apart from that, a key catalyst across the sector, analysts said, could be the inclusion of natural gas under the Goods and Services Tax (GST) regime. Currently, gas is taxed under a patchwork of indirect levies like state VAT, central excise, and sales tax. Bringing gas under GST would streamline taxation, reduce cost burdens, and enable industrial customers to claim input tax credit—especially beneficial in price-sensitive regions like Morbi, where propane already enjoys GST benefits. Nomura believes GGL stands to gain the most from this reform, given its major I&C customer base. That said, Nomura prefers MGL for its superior volume outlook, low regulatory risk from EV policies, and attractive valuation. GGL is rated 'Reduce' due to demand headwinds in the I&C segment and a challenging competitive landscape, though GST inclusion remains a key upside risk.
Business Upturn
4 days ago
- Business
- Business Upturn
Mahanagar Gas shares jump 3% as Nomura upgrades stock to ‘Buy' with Rs 1,680 target
By Aman Shukla Published on June 17, 2025, 09:46 IST Mahanagar Gas Ltd (MGL) shares gained 3% in early trade after Japan-based brokerage firm Nomura upgraded the stock to 'Buy' from 'Neutral' and raised its target price to ₹1,680 from ₹1,345. The upgrade positions MGL as Nomura's top pick among city gas distribution (CGD) companies. As of 9:45 AM, the shares were trading 1.42% higher at Rs 1,409.50. According to Nomura, MGL offers the highest expected volume growth among peers, limited exposure to the volatile industrial and commercial (I&C) segment, and trades at an attractive valuation. The brokerage also believes MGL is better positioned than its peers, such as Indraprastha Gas Ltd (IGL), in navigating electric vehicle (EV)-related regulatory risks. The bullish stance reflects strong confidence in MGL's growth trajectory and operational stability in a dynamic energy landscape. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
5 days ago
- Business
- Time of India
Buy Mahanagar Gas, target price Rs 1,705: ICICI Securities
ICICI Securities maintains a buy call on Mahanagar Gas (MGL) with a target price of Rs 1705, indicating a 28% upside. The brokerage is optimistic about MGL's long-term prospects, citing strong volume visibility, peer-leading margins, and attractive valuation. They believe the current valuation is significantly below that of its peers, leaving room for growth. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.)
Time of India
11-06-2025
- Business
- Time of India
MGL Poised for Upside as It Holds Key Moving Averages: Choice Broking
'MGL stock is trading above its 100-day moving average, indicating a sustained positive trend. Additionally, the price action is respecting an upward-sloping trendline, further reinforcing the bullish sentiment. Traders can buy for a target of Rs 1490-1605 in the next few weeks,' Kkunal V. Parar, Vice-President of Technical Research and Algo, Choice Broking, said. Show more Show less
