Mahanagar Gas surges on acquiring 100% stake in Unison Enviro
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Mahanagar Gas is currently trading at Rs. 1496.00, up by 34.30 points or 2.35% from its previous closing of Rs. 1461.70 on the BSE.
The scrip opened at Rs. 1490.85 and has touched a high and low of Rs. 1502.00 and Rs. 1475.75 respectively. So far 3635 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1513.00 on 01-Feb-2024 and a 52 week low of Rs. 831.00 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1513.00 and Rs. 1375.70 respectively. The current market cap of the company is Rs. 14438.35 crore.
The promoters holding in the company stood at 32.50%, while Institutions and Non-Institutions held 58.08% and 9.42% respectively.
Mahanagar Gas (MGL) has acquired 100% equity stake in Unison Enviro (UEPL). This strategic acquisition, the first in MGL's history, solidifies the company's commitment to its long-term growth strategy. The acquisition was completed on February 1, 2024, subsequent to the receipt of approval from Petroleum and Natural Gas Regulatory Board (PNGRB) on December 13, 2023. Accordingly, UEPL has become Wholly-Owned Subsidiary of the Company with effect from February 01, 2024.
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.
