Nomura retained its 'Buy' rating on Mahanagar Gas (MGL) with a target of Rs 1,510, and maintained a 'Reduce' rating on Gujarat Gas with a target price of Rs 390.
Tax tweak: MOFSL said Mahanagar Gas Ltd (MGL) would also record an Rs 0.3 per scm Ebitda margin gain, while Gujarat Gas is unlikely to see any substantial benefits.
Axis Securities said that With the current close, IGL has decisively surpassed the past three months' down sloping trendline resistance at Rs 218 levels, along with huge volumes.
Emkay Global suggested a 'Buy' rating on Mahanagar Gas (MGL) with a target of Rs 1,700. It has 'Add' rating on Indraprastha Gas (IGL) with a target of Rs 230 and 'Reduce' rating on Gujarat Gas with a target of Rs 480.
IGL shares led the fall, tanking 4.11 per cent to Rs 194.80. It was followed by OMC stocks BPCL, HPCL and IOC, which declined 3.86 per cent, 2.80 per cent and 2.20 per cent, respectively.
Gujarat Gas was trading 0.7 per cent lower at Rs 429.35. MGL shares fell 4.8 per cent to Rs 1,252.50. IGL was down 1.37 per cent at Rs 176.51.
CGD stocks: Antique suggested 'Hold' on MGL and Gujarat Gas and 'Sell' on IGL. For Gujarat Gas, it suggested a target of Rs 410. It sees MGL at Rs 1,270 and IGL at Rs 160.
Stock including JBM Auto, Indraprastha Gas and Senco Gold are showing up to 50 per cent fall in some trading apps today as all these three-stocks turned ex-bonus or ex-split.
IGL share price: The scrip traded lower than the 5-day, 100-, 150-day and 200-day simple moving averages (SMAs) but higher than the 10-day, 20-, 30-day and 50-day SMAs. The stock's 14-day relative strength index (RSI) came at 55.74. A level below 30 is defined as oversold while a value above 70 is considered overbought.
CGD stocks: Nuvama said following the twin APM de-allocation for city gas distributors (CGDs), gas costs may increase by Rs 1–3.5/scm for its coverage CGDs, assuming the gas shortfall is covered equally by New Well Gas and spot LNG.
IGL share price today: Market cap of the clean energy firm stood at Rs 27,006 crore. Total 3.56 lakh shares changed hands amounting to turnover of Rs 13.88 crore.





