The names of the buyers were not ascertained immediately.
At 10:11 am, the stock was trading 8 per cent higher at Rs 850 apiece on the NSE. In comparison, the benchmark Nifty 50 was ruling flat at 11,002 levels, down 0.46 per cent. A total of 5.81 million shares of MGL changed hands on the NSE and BSE till the time of writing this report.
The stock has underperformed the market by falling 25 per cent from its recent high of Rs 1,055 on March 29, as compared to a three per cent decline in the benchmark index till Monday.
Earlier in April, Shell
had reduced its shareholding in Mahanagar Gas from 32.5 per cent to 24 per cent. “This is part of Shell’s ongoing portfolio optimisation to transform Shell
into a simpler company, delivering stronger returns,” Shell
had said in its media statement. CLICK TO READ FULL ARTICLE