Business Standard

Gujarat Gas tanks as British Gas exits

GSPC made an open offer to acquire additional 26% stake in Gujarat Gas at price of Rs 314.17 per share

Related News

Company has tanked almost 12% to Rs 297 in opening deals after (BG) sold controlling stake in its Indian subsidiary to the state-owned company Gujarat State Petroleum Corporation (GSPC) for Rs 2,464 crore.

“On Wednesday, signed an agreement for acquisition of 65.12% stake in Gujarat Gas Company from BG Group at Rs 295 per share. BG’s shareholding is being acquired by Gujarat Distribution Networks Limited, a company in which 100% is held by GSPC Group,” GSPC said in a filing.

Meanwhile, Gujarat Distribution Networks Limited along with GSPC has made an open offer to acquire additional 33.34 million shares constituting 26% of the fully paid-up share capital of Gujarat Gas at price of Rs 314.17 per share.

The stock opened at Rs 314 and touched high of Rs 316 on the NSE. A combined 1.02 million shares have changed hands on the counter in opening deals on both the exchanges.

Read more on:   
|
|

Read More

Mallya cashes in on UB Holding share rally

Even in bad times, Vijay Mallya has managed to make a neat cash pile for himself by selling a part of his in United Breweries Holding Ltd (UBHL), ...

Quick Links

 

Market News

Raising the output key to Cairn India's prospects

With crude oil prices benign, increasing oil and gas production is crucial to drive growth

Biocon sees muted quarter, lacks immediate triggers

Reduced exports to West Asia & North Africa, capacity constraints affect sales

Exchanges plan stake sales in depository arms

NSE in talks with investors for offloading stake, BSE considering an IPO; to do so before April

Many listed firms had same auditors for over 10 yrs: IIAS

Proxy advisory body Institutional Investor Advisory Services India (IIAS) has called for periodic rotation of auditors and capping their tenure ...

Freeing diesel : Profound effect across many industries

The decontrol of diesel over the weekend will have a profound effect on the oil industry value chain. It could significantly reduce the fiscal ...

Back to Top