External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

India Utilities / Thematic (Sector/Industry)

<ul><li>Indraprastha Gas (IGL) and Mahanagar Gas (MGL) stock prices have seen a ~18/1% correction over the last six months and underperformed Sensex by 25/7%</li><li>However, we believe this pessimism is overdone and expect City Gas Distribution (CGD) companies, IGL and MGL, with higher exposure to the CNG segment, to benefit from 1) the boost to volume growth, driven by increased price gap between CNG and alternate fuels and 2) improving margins due to decline in price of gas produced from high-pressure, high-temperature (HPHT) fields</li><li>Our thesis of volume growth improvement is also supported by Vahan data, which indicates an improvement in monthly CNG vehicle registrations in Delhi and Maharashtra over the last seven months</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Indraprastha Gas (IGL) and Mahanagar Gas (MGL) stock prices have seen a ~18/1% correction over the last six months and underperformed Sensex by 25/7%However, we believe this pessimism is overdone and expect City Gas Distribution (CGD) companies, IGL and MGL, with higher exposure to the CNG segment, to benefit from 1) the boost to volume growth, driven by increased price gap between CNG and alternate fuels and 2) improving margins due to decline in price of gas produced from high-pressure, high-temperature (HPHT) fieldsOur thesis of volume growth improvement is also supported by Vahan data, which indicates an improvement in monthly CNG vehicle registrations in Delhi and Maharashtra over the last seven monthsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India City Gas Sector: Pessimism Overdone