State-run insurer Life Insurance Corporation of India (LIC) has reduced its shareholding in Mahanagar Gas (MGL) from 9.03% to 6.94% via open market. It sold shares at a price of Rs 1,521.31 apiece, which aggregates up to Rs 314 crore.
The current stake of 6.94% represents 68.54 lakh shares LIC holds in MGL.
Shares of MGL on Friday ended at Rs 1946.45 on the BSE, falling by Rs 17.85 or 0.91% while those of LIC were down by 4.10 or 0.40% at Rs 1,023.90.
More to come….
