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Mahanagar Gas extends fall after huge block deal; stock dips 11% in 3 days

The stock dipped 4% to Rs 905 on the NSE, extending its 6.7% decline in past two trading days, after a more than 9% of total equity of the company changed hands through block deal

SI Reporter  |  Mumbai 

Brokerages ask clients to 'subscribe' to Mahanagar Gas IPO

dipped 4% to Rs 905 on the National Stock Exchange (NSE) in early morning trade, extending its 6.7% decline in past two trading days, after a more than 9% of total equity of auto and kitchen fuel distributor changed hands through block deals.

At 09:15 am; around 9.07 million shares representing 9.18% of total equity of have changed hands for about of Rs 8,208 million through block deal, the NSE data shows.

At 09:35 am; the stock was trading 2.7% lower at Rs 919 on the NSE, as compared to 0.08% decline in the S&P BSE Sensex. A combined 13.24 million shares changed hands on the counter on the NSE and BSE, the exchanges data shows.

According to media report Limited is looking to sell up to 12.5%, stake in the company.

As of December 2017, Limited was held 32.5% stake in the shareholding pattern data shows.

is a joint venture between GAIL India and BG Asia Pacific Holdings Singapore.


First Published: Wed, April 11 2018. 09:38 IST
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