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LIC buys 2% stake in Mahanagar Gas

06 Jan 2022 Evaluate

Life Insurance Corporation of India (LIC) has bought 2% stake in the Mahanagar Gas via open market transactions. Post-acquisition, LIC’s shareholding increased to 7% from 5% earlier.

Mahanagar Gas is in the business of City Gas Distribution (CGD), supplying natural gas in the city of Mumbai including its adjoining areas and the Raigad district, in the State of Maharashtra, India.

Peers
Company Name CMP
GAIL (India) 172.20
Gujarat Energy 234.45
Indraprastha Gas 144.05
Mahanagar Gas 1050.40
Adani Total Gas 603.70
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