Thread by @subi_sa

#MGL #MahanagarGas
CMP ₹1219

Target: 1300/1400/1500/higher
SL: No SL for #Investment. For ST keep 900

Buy on dips
Best Buy range: 1000-1100

Only for #patient #longterm #investor

Please do your due diligence

#StockMarket #NSE #BSE #gas #Investing #Invest

#MGL

🔗Expanding CGD network and new business areas for PNG CNG
🔗Consistent promoter holding 32.5%. GoM holds 10%
🔗Distributor in prominent city of Mumbai and surrounding areas
🔗Improving business prospects post COVID

#MGL

🔗Reasonable valuation and consistent dividend payer 3% yield
🔗Experienced Management
🔗Debt free
🔗Increasing cash flows
🔗Positive guidance of revenue and margin expansion by Management
🔗Low crude oil price is positive

#MGL

Risks:
🔗Even with Open Access, the demand in Mumbai will be on rise so more players won’t big issue. Similar to Power and Oil open access
🔗Delay in Govt policy implementation. Currently policies are being announced with target dates is positive

#MGL

Q3FY21 good results
- Revenue slightly decreased YoY but increased QoQ
- Improving post lockdown
- Demand increasing
- Profit increased YoY 17% and QoQ 50%
- Declared Rs 9 Interim dividend
- FII holding increased by 4%

#MGL

- Recent GST news was good since VAT is around 15-20% while GST could be around 5%