Mahanagar Gas Ltd.

NSE: MGL · Oil Gas & Consumable Fuels

₹1,048.80

as of 28 Sep 2026

AI verdict · 28 Sep 2026

Bearish 62% confidence

Margin compression from RLNG cost inflation and demand elasticity risk outweigh strong Q1 operational metrics; Q2 results imminent will…

Strongest bull point

Q1 FY27 delivered strong operational growth (7% volume, 46.8% net profit QoQ, 95k PNG adds) and ₹30/share dividend demonstrates cash generation; September price hikes and PNG incentive scheme are real catalysts for margin recovery from January 2027.

Strongest bear point

EBITDA per SCM guidance collapsed to ₹8.5–9 from ₹9–10 due to forced RLNG reliance and currency headwinds; Kotak's 'Reduce' despite Q1 beat signals institutional recognition of margin pressure, and demand elasticity from price hikes remains untested.

Technical Forecast · next 10 trading days

Expected

₹1,047.57 -0.1%

Range

₹1,041.47 – ₹1,047.90

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Every call on MGL, misses included

Bearish 28 Sep 2026 → now Scores 28 Oct 2026

₹1,048.80 → ₹1,048.80 0.0%

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Every verdict and forecast here is dated and scored when it matures — right or wrong. The first scored results publish a month after launch.

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