BofA maintains buy rating on MGL with target price of Rs 1,330, citing favorable risk-reward and policy tailwinds

Wed 30 Sep 2026

Target price

1,330 rupees

Volume growth guidance

8 to 9 percent per annum

Spot gas dependence

2 to 3 percent or lower

Heard on Live TV News Channel between 08:58:29 - 08:59:44 IST.

• BofA maintained a buy rating on Mahanagar Gas with target price of Rs 1,330
• Said risk-reward ratio is favorable from current levels
• Policy tailwinds expected to improve margins going ahead, with demand not a constraint
• Gas availability and cost flagged as main swing factors
• Volume growth guidance intact at roughly 8-9% per annum; spot dependence fallen to 2-3% or lower; small quantity of winter gas hedged at fixed prices; some institutional buying seen in peers last week

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