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

Sensex reclaims 26,500 led by financials; HDFC up 3%

Sensex is at 26,504 with a gain of 395 points while Nifty is up 121 points at 7,901

Refined soya oil down 0.3% on low demand

Oil for delivery in October weakened by 0.03%

Chana down 0.9% on higher supply

Commodity for delivery in November traded lower by 0.76%

Cardamom up 1.1% on firm spot demand

Spice for delivery in November moved up by 0.86%

Palm oil down 0.6% on sluggish demand

Oil for delivery in October traded lower by 0.58%

Back to Top