320-x-100_uti_gold.jpg" alt="Advertisement">
View on Mahanagar Gas considering Covid restrictions by Mr. Yash Gupta, Angel Broking
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Below are Views on Mahanagar Gas considering Covid restrictions by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
New Restriction in Maharashtra to hurt Mahanagar Gas volumes, Maintain SELL rating. Due to increase in cases of covid in Maharashtra, state government has increased the restriction on travel in the state. Due to all this restriction, we expect CNG volumes to come down by 20%-40%, CNG volumes contribute 70% of company overall volumes. We may see some jump in PNG domestic consumption but that can't offset the overall volume decline. We expect overall volume to degrow by 15% - 30% in the current month and sales to degrow by 15% - 25%. We maintain our SELL rating on Mahanagar Gas Limited.
Above views are of the author and not of the website kindly read disclaimer
Top News
Glenmark Pharmaceuticals surges on launching Nitric Oxide Nasal Spray in partnership with Sa...
Tag News
On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
