LIC Increases Stake In Gujarat Gas Ltd From 4.981% To 5.012%

Life Insurance Corporation of India (LIC) has increased its stake in "GUJARAT GAS LTD." (GGL) from 3,42,90,854 to 3,45,07,854 Equity Shares. With this, the LIC has increased its shareholding from 4.981% to 5.012% of the paid-up capital of the GGL.

GGL caters to its customers by providing CNG and PNG connections in domestic, Industrial, Commercial and Non commercial segments in the areas of South & Central Gujarat and Saurashtra.

According to the regulatory filing by the Board of Directors of LIC, "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Corporation's shareholding in "GUJARAT GAS LTD." has increased from 3,42,90,854 to 3,45,07,854 Equity Shares, increasing its shareholding from 4.981% to 5.012% of the paid-up capital of the said Company."

The shares of GGL on Thursday last traded at Rs. 441.10 apiece, down 1.15% from its previous close of Rs. 446.25 apiece on the BSE. The stock hit an intraday high of Rs. 447.85 and an intraday low of Rs 440.10. The stock declined 2.47% in 1 week. It declined 13.13% in 1 year. It gave 215.88% positive return in 5 years.

Meanwhile, the shares of LIC closed 0.14% lower at Rs 654.55 apiece on the BSE. The stock declined 0.95% in 1 week. It gained 2.88% in 3 months and 14.28% in 6 months, respectively. It gained 0.31% in 1 year.