July 30, 2026 11:41 AM GMT Mahanagar Gas Ltd | Asia Pacific M Update Growth Surprises AlphaSignals Earnings Reaction Unchanged Meaningful upside Modest revision higher Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways We prefer oil refiners (more in Refiners: The "Golden Age") over gas plays. However, MGL remains our preferred city gas play in view of better gas sourcing and upside risks to growth both ...