India's Mahanagar Gas rises as analysts hail bright volume outlook

Indraprastha Gas

09/06/2025 06:01

** Indian city gas distributor (CGD) Mahanagar Gas MGAS.NS up 3.8% to 1,381 rupees

** Antique Stock Broking says co's forecast of more than 10% volume growth over next 2-3 years backed by visible drivers; co better placed on volume growth vs peers

** Peers Indraprastha Gas IGAS.NS, Gujarat Gas GGAS.NS up 1% and 0.2%, respectively

** Citi "encouraged by management's optimistic outlook, especially given solid execution over the last two years"

** Says Mahanagar "remains our preferred CGD pick"

** Antique, Citi retain "hold" and "buy" calls, keep PTs unchanged at 1,444 rupees and 1,700 rupees, respectively

** Stock rated "buy" on avg; median PT is 1,575 rupees - per LSEG-compiled data

** IGAS and GGAS rated "buy" and "hold" on an avg

** YTD, MGAS up ~8% vs IGAS's 2.5% rise and GGAS's ~4% fall

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))