MGL stock check: Shares of city gas distributor (CGD) Mahanagar Gas Ltd (MGL) have rallied 31 per cent in the last three months and outperformed the 30-share BSE Sensex by nearly 22 per cent. In the last three months, MGL has provided 19.93 per cent returns to investors against Nifty 50’s 7.44 per cent during the period. According to domestic brokerage HDFC Securities, strong volume growth will continue to drive the stock price outperformance.
On Tuesday, shares of MGL opened at ₹554.30 and hit an intra day high of ₹557.75 against a 52-week high of ₹570.60, before settling 1.10 per cent lower at ₹54.80 apiece on the BSE. The natural gas distributor commands a market capitalization of ₹38,416.04 crore and a turnover of ₹4.66 crore.
