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MAHANAGAR GAS Plunges 3%; BSE OIL & GAS Index Down 2.4%
Wed, 11 Sep 14:30

MAHANAGAR GAS Plunges 3%; BSE OIL & GAS Index Down 2.4%Image source: peterschreiber.media/www.istockphoto.com

MAHANAGAR GAS share price has plunged 3% and is presently trading at Rs 1,805.6.

Meanwhile, the BSE OIL & GAS index is at 30,316.2 (down 2.4%).

Among the top losers in the BSE OIL & GAS index today are ONGC (down 3.9%) and IOC (down 3.0%).

Over the last one year, MAHANAGAR GAS has moved up from Rs 1,052.1 to Rs 1,805.6, registering a gain of Rs 753.6 (up 71.6%).

On the other hand, the BSE OIL & GAS index has moved up from 19,578.7 to 30,316.2, registering a gain of 54.8% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were HPCL (up 131.1%), BPCL (up 86.6%) and IOC (up 79.0%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,601.1 (down 0.4%).

The top losers among the BSE Sensex today are Tata Motors (down 5.9%) and M&M (down 1.6%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,940.3 (down 0.4%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,127.1 to 81,601.1, registering a gain of 14,474.0 points (up 21.6%).

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 14.9.

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