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MAHANAGAR GAS Plunges 14%; BSE OIL & GAS Index Down 1.0%
Fri, 18 Oct 10:34

MAHANAGAR GAS Plunges 14%; BSE OIL & GAS Index Down 1.0%Image source: bluebay2014/www.istockphoto.com

MAHANAGAR GAS share price has plunged 14% and is presently trading at Rs 1,514.0.

Meanwhile, the BSE OIL & GAS index is at 29,433.9 (down 1.0%).

Among the top losers in the BSE OIL & GAS index today are Indraprastha Gas (down 11.2%) and GUJARAT GAS (down 3.3%).

Over the last one year, MAHANAGAR GAS has moved up from Rs 1,134.6 to Rs 1,514.0, registering a gain of Rs 379.4 (up 33.4%).

On the other hand, the BSE OIL & GAS index has moved up from 19,000.3 to 29,433.9, registering a gain of 54.9% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were HPCL (up 149.2%), BPCL (up 94.4%) and IOC (up 79.7%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,735.3 (down 0.3%).

The top losers among the BSE Sensex today are Infosys (down 4.3%) and Tech Mahindra (down 2.9%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,694.4 (down 0.2%). Infosys and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 80,735.3, registering a gain of 14,568.4 points (up 22.0%).

MAHANAGAR GAS Financial Update...

MAHANAGAR GAS net profit fell 21.6% YoY to Rs 2,888 million for the quarter ended June 2024, compared to a profit of Rs 3,684 million a year ago. Net sales rose 8.4% to Rs 18,322 million during the period as against Rs 16,902 million in April-June 2023.

For the year ended March 2024, MAHANAGAR GAS reported 61.6% increase in net profit to Rs 12,764 million compared to net profit of Rs 7,901 million during FY23. Revenue of the company fell 0.2% to Rs 56,659 million during FY24.

The current Price to earnings ratio of MAHANAGAR GAS, based on rolling 12 month earnings, stands at 12.5.


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