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Gujarat State Petroleum Corporation (GSPC) will acquire 65.12% in Gujarat Gas Company Ltd (GGCL) for Rs 24.64bn, according to reports.
Reports stated that GSPC, along with its affiliates in the Group, signed definitive agreements for buying the stake from the BG Group.
The acquisition is being made at Rs 295 a share, says report.
There are reports that the deal would expand GSPC Group’s presence in Gujarat.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.