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Indraprastha Gas gains on acquiring 50% stake in MNGL

30 Mar 2015

Indraprastha Gas is currently trading at Rs. 418.00, up by 5.35 points or 1.30% from its previous closing of Rs. 412.65 on the BSE.

The scrip opened at Rs. 412.20 and has touched a high and low of Rs. 422.05 and Rs. 412.20 respectively. So far 3818 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 488.30 on 22-Jan-2015 and a 52 week low of Rs. 277.70 on 25-Apr-2014.

Last one week high and low of the scrip stood at Rs. 422.05 and Rs. 405.00 respectively. The current market cap of the company is Rs. 5866.01 crore.

The promoters holding in the company stood at 45.00% while Institutions and Non-Institutions held 38.37% and 16.63% respectively.

Indraprastha Gas (IGL) has acquired 4.75 crore shares constituting 50% of present paid up capital of Maharashtra Natural Gas Limited (MNGL) in the first tranche at a price of Rs 38 per equity share from certain financial investor shareholders of MNGL.

Indraprastha Gas, incorporated in 1998, is engaged in distribution of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Delhi. In 1999 the company took over Delhi City Gas Distribution Project from GAIL (India). IGL laid the network for the distribution of natural gas in the National Capital of Delhi to consumers in the domestic, transport, and commercial sectors.

Related Indraprastha Gas Ltd. Links:

Indraprastha Gas Share Price

495.25 -3.70 (-0.74%) Dec 08, 12:05
1 Year Price Chart
Company Name CMP
GAIL India 132.95
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Indraprastha Gas 495.25
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SEBI Registered: Investment Adviser - INA000013323