[ad_1]
MUMBAI: Shares of GAIL India rose 4.6% on Thursday following information of Life Insurance Corporation of India (LIC) shopping for a further 2.014% stake in the state-run vitality main.
At 0120 pm, shares of GAIL India traded at ₹106.4, up 3.6% from earlier shut, whereas the benchmark Sensex was up 0.7% at 36584.78.
LIC purchased 203.71 million shares or 2.014% stake in GAIL India by way of open market purchases between 13 February, 2019 and seven July, 2020. Following the transaction, LIC’s stake in GAIL India has elevated to 7.019% from 5.004% earlier.
GAIL India’s March quarter revenue jumped 216% year-on-year to ₹4,813.88 crore whereas internet gross sales fell 6% year-on-year to ₹17,922.79 crore in the course of the interval.
Since the start of 2020, GAIL India shares have declined 12%. From its March lows, the inventory has risen 63%.
As of 31 March, the federal government held 52.49% stake in the company.
[ad_2]
Source link