Today's Top Gainer
Note:Top Gainer - Nifty 50 More
Shares of Mahanagar Gas rallied ~11% intraday on Aug 20 after a foreign promoter offloaded its entire stake in the company.
According to reports, British Gas sold 98 lakh shares in the natural gas distribution company through block deals on the National Stock Exchange.
BG Asia Pacific Holdings Pte Limited, a wholly-owned subsidiary of Shell, held 10% stake (representing 98,77,780 shares) in the company, as per June shareholding pattern available on exchanges
In April this year, BG Asia had reduced its stake in Mahanagar Gas from 32.5% to 24%.
State-owned entity GAIL India, the Indian promoter, held 32.50% stake in the company.
Mahanagar Gas Ltd is currently trading at Rs849.75 up by Rs62.4 or 7.93% from its previous closing of Rs787.35 on the BSE.