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 sees sharpest single-day gain post Modi win

The previous best single-day gain for the 30-share index (S&P BSE Sensex) was 556.77 points, or 2.27%, on May 12, 2014

Besides liquidity, global markets will take cues from growth: Abhay Laijawala

Q&A with managing director and head of research at Deutsche Equities India

Realty shares rally; CNX Realty index surges over 4%

Unitech, HDIL, Indiabulls Real Estate, Oberoi Realty, DLF, DB Realty and Anant Raj Ind are up 4-11% on NSE.

Cardamom up 0.3% as demand picks up

Spice for delivery in November edged higher by 0.24%

Sugar down 0.5% on low demand

Commodity for delivery in far-month December traded lower by 0.18%

Back to Top