Mahanagar Gas trades in green as LIC buys 2% stake
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Mahanagar Gas is currently trading at Rs. 884.90, up by 6.20 points or 0.71% from its previous closing of Rs. 878.70 on the BSE.
The scrip opened at Rs. 881.00 and has touched a high and low of Rs. 887.60 and Rs. 871.70 respectively. So far 25996 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1284.45 on 17-Jun-2021 and a 52 week low of Rs. 834.05 on 20-Dec-2021.
Last one week high and low of the scrip stood at Rs. 887.60 and Rs. 856.95 respectively. The current market cap of the company is Rs. 8734.92 crore.
The promoters holding in the company stood at 32.50%, while Institutions and Non-Institutions held 57.18% and 10.32% respectively.
Life Insurance Corporation of India (LIC) has bought 2% stake in the Mahanagar Gas via open market transactions. Post-acquisition, LIC’s shareholding increased to 7% from 5% earlier.
Mahanagar Gas is in the business of City Gas Distribution (CGD), supplying natural gas in the city of Mumbai including its adjoining areas and the Raigad district, in the State of Maharashtra, India.
