INSUBCONTINENT EXCLUSIVE:
On the BSE, Mahanagar Gas shares fell as much as 7.4 per cent during Thursday's session.Mahanagar Gas (MGL) shares fell as much as 8 per
cent on Thursday amid heavy volumes
The decline in the stock came after reports suggested BG Asia Pacific Holding, the foreign promoter of the company, is likely to pare its
stake in the company through a block deal on Thursday
At the day's lowest point, Mahanagar Gas share price plunged to Rs 832 from the previous close of Rs 902.20
That meant a fall of 7.8 per cent in intraday trade.On the BSE, Mahanagar Gas shares fell as much as 7.4 per cent during Thursday's
The shares traded with heavy volumes
By 2:40 pm, 42.4 lakh Mahanagar Gas shares had changed hands on the stock exchange, as against a two-week average of 32,000
That meant a spike of more than 130 times in trading volume.Mahanagar Gas or MGL, a natural gas distribution company, is a joint venture of
GAIL (India) Limited, Government of Maharashtra and BG Asia Pacific Holdings, which is owned by Royal Dutch Shell group.At the end of June
quarter, BG Asia Pacific Holdings Pte Limited held a 41.67 per cent stake in Mahanagar Gas while 30.77 per cent was with GAIL India, data
