Shares of Mahanagar Gas Ltd. rose 6.43% to Rs 965.25 apiece in trade on Friday after Ashoka Buildcon with Morgan Stanley-managed North Haven India Infrastructure Fund, decided to sell 100% stake in subsidiary Unison Enviro Pvt., comprising 13.54 shares, to Mahanagar Gas for Rs 531 crore.
- The stock rose as much as 7.18% intraday, rising the most in nearly a year since March 8. Total traded volume stood at 14.4 times its 30-day average. The relative strength index was at 69.5.
- Out of the 36 analysts tracking the company, 28 maintain a ‘buy’ rating, five recommend a ‘hold’ and three suggest to ‘sell’ the stock.
- The return potential as calculated by the consensus of analyst estimates, stand at an upside of 5.2% over the next 12 months.
Source: Exchange filing
