External broker reports(aggregated public sources), 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.

Equity Bottom-Up

<ul><li>The Mahanagar Gas (MGL) stock price has rallied ~15% and outperformed the Sensex by ~8% in the last 3M</li><li>However, despite this performance, we estimate the current market price factors only ~5% volume growth</li><li>We anticipate the accelerated infrastructure rollout in existing and new geographical areas (GAs), the acquisition of Unison Enviro’s (UEPL) three GAs, competitive CNG price vs petrol/diesel, and robust CNG vehicle registrations data should support strong volume growth of 10.4% CAGR over FY24-26E.</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>

The Mahanagar Gas (MGL) stock price has rallied ~15% and outperformed the Sensex by ~8% in the last 3MHowever, despite this performance, we estimate the current market price factors only ~5% volume growthWe anticipate the accelerated infrastructure rollout in existing and new geographical areas (GAs), the acquisition of Unison Enviro’s (UEPL) three GAs, competitive CNG price vs petrol/diesel, and robust CNG vehicle registrations data should support strong volume growth of 10.4% CAGR over FY24-26E.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.

Mahanagar Gas: Volume Growth Levers in Place. Maintain BUY