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Hot Pursuit
14-Sep-23
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LIC hikes stake in Mahanagar Gas
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Life Insurance Corporation of India said that it has increased its stake in Mahanagar Gas from 7.015% to 9.030%.
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Life insurer bought 69,29,335 shares or 2.015% equity, at an average cost of Rs 918.87 via open market purchase during the period from 1 April 2022 to 12 September 2023.
Mahanagar Gas ltd is engaged in the business of City gas distribution (CGD), supplying natural gas in the state of Maharashtra.
LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.
Shares of LIC rose 0.30% to Rs 661 while those of Mahanagar Gas added 1.26% to Rs 1,043.90 on the BSE.
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