Mahanagar Gas climbs 12% after British Gas sells entire stake; Jefferies maintains buy
In April this year, BG Asia had reduced its stake in Mahanagar Gas from 32.5 percent to 24 percent. State-owned entity GAIL India, the Indian promoter, held 32.50 percent stake in the company
Shares of Mahanagar Gas rallied nearly 12 percent intraday on August 20 after a foreign promoter offloaded its entire stake in the company.
British Gas sold 98 lakh shares in the natural gas distribution company through block deals on the National Stock Exch
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