India's Mahanagar Gas gains after March-qtr profit, rev rises

Mahanagar Gas

25/05/2021 06:51

** Indian gas distribution co's shares  MGAS.NS  gain as
much as 4.8% to 1,196.60 rupees, their highest since March 31
    ** MGAS on Monday reported a 27.7% and 4.2% rise in
March-qtr profit after tax and rev from ops, respectively
 urn:newsml:reuters.com:*:nFWN2NB0IF
    ** Co's March-qtr results helped by 4.4% rise q/q in total
volumes to 2.892 mln cubic metres of gas a day
    ** MGAS Q4 results, sales volume and gross margins in line
with our estimates - ICICI Securities
    ** Jefferies says potential downside to consensus FY22 EPS
due to COVID 2nd wave could be limited, maintains "buy" rating 
    ** More than 1.8 mln shares traded as of 0535 GMT, 4.5 times
their 30-day moving avg of ~410,000 shares
    ** Up to Monday's close, stock rose 7.6% YTD

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))