The Life Insurance Corporation of India on Wednesday acquired 2.015 per cent in Mahanagar Gas Limited, the company announced through an exchange filing. The company increased the shares from 69,29,335 to 89,19,236 shares at an average cost of Rs 918.87.
LIC earlier had 7.015 per cent stake in Mahanagar Gas and post the acquisition it was increased to 9.030 per cent between January 2022 to September 12, 2023.
Mahanagar Gas is engaged in the business of city gas distribution (CGD), supplying natural gas in the state of Maharashtra and has a market capital of Rs 10,049.65 crore.
LIC sells share in Dr Reddy's
LIC of India on Tuesday informed that the Corporation’s shareholding in Dr Reddy's Laboratories Limited has diluted from 1,61,44,983 to 1,27,20,873 Equity Shares, decreasing its shareholding from 9.681 percent to 7.628 percent of the paid-up capital of the said Company.
LIC and Mahanagar Gas Shares
The shares of Mahanagar Gas on Wednesday closed at Rs 1,032.95 while the shares of LIC of India shares were at Rs 659, down by 0.099 per cent.