MGL Share Price Target 2024, 2025, 2026

February 15, 2024

MGL Share Price Target (NSE/BSE): If you are interested in investing in Mahanagar Gas Limited (MGL) or already have invested, you should know some fundamentals of this stock because we are going to provide you with the target price of the MGL’s share based on its fundamentals and historical data.

MGL’s stock has been a topic of discussion since it announced a dividend of ₹12 rupees on January 23, 2024. After this announcement, people rushed to buy MGL shares in huge volumes.

However, if you are a trader or an investor you should know MGL’s Share Price Target for this year and onwards, but before that let’s first understand the current situation of this share.

Also read: NCL Research and Financial Services Share Price Target 2024, 2025, 2026, 2030

Current Status of MGL Share

Since February 5, 2024 (its ex-dividend date), there has been considerable fluctuation in MGL’s share price. On February 5, when the stock market opened, the share opened at ₹1471 and then closed at ₹1467. Then on February 7, MGL reached a 52-week high of ₹1554.30, but it closed at ₹1486.80. After that, there was a significant profit booking, and on February 13, the share price fell to ₹1435.70.

If we talk about today, which is February 15, 2024, a rally was witnessed in this share. As soon as the stock market opened, its price reached ₹1494, while it closed at ₹1476.80 on February 13. In terms of trading, this day was quite good. The share touched ₹1500 after a long time today and made a high of ₹1534.80, which is still ₹20 below its 52-week high.

MGL Share Fundamentals

Mahanagar Gas Limited is a government company that supplies gas in metropolitan cities like Delhi and Mumbai. The market capitalization of this company is ₹14,725 crores. The company’s P/E ratio is 11.39, which is significantly better compared to its peers (22.17). If we talk about the debt to equity ratio, it is 0.02, which is considered very good. MGL’s return on equity (ROE) is 24.53%, and the EPS (Earnings Per Share) is ₹130.89. Despite such good numbers, the company is undervalued.

If we look at the company’s profits over the past five years, it was ₹546 crores in 2019, ₹794 crores in 2020, ₹621 crores in 2021, ₹597 crores in 2022, and it increased to ₹790 crores in 2023.

Founded in Year	1995
Market Cap (in 2024)	₹14,725 करोड़
Net Worth (in 2023)	₹4134 करोड़
P/E	11.39
P/B	3.15
Industry P/E	22.17
Debt to Equity	0.02
ROE (Return on Equity)	24.53%
EPS (Earning Per Share)	130.89
Dividend Yield	1.07%
Pledged Holding	None

Promoter Holdings in MGL

Dec 2023 – 32.50%
Sep 2023 – 32.50%
Jun 2023 – 32.50%
Mar 2023 – 32.50%

FII Holdings in MGL

Dec 2023 – 30.85%
Sep 2023 – 30.51%
Jun 2023 – 32.38%
Mar 2023 – 30.95%

DII Holdings in MGL

Dec 2023 – 12.74%
Sep 2023 – 13.80%
Jun 2023 – 12.64%
Mar 2023 – 13.07%