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

Mahanagar Gas 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 Mahanagar Gas 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