Nifty Tips
Shares of Gujarat Gas Co. Ltd. plunged on Thursday in a rising market after BG Group Plc sold its 65% stake in the company to GSPC for Rs. 24.64bn.
GSPC will acquire BG's 65.12% stake in Gujarat Gas at Rs. 295 per equity share.
On Wednesday, Gujarat Gas scrip closed at Rs. 336.70 on the Bombay Stock Exchange (BSE), down by 2.15% from the previous close. It is down Rs 32 or 9.5% from the last close.
It touched a low of Rs. 297.50 earlier after opening at Rs. 320.
Gujarat Gas stock has fallen amid high trading volumes on BSE. Traded volumes on the
counter stood at 4.5 lakh shares versus a two-week average of 74,000 shares.
On the other hand, shares of Gujarat State Petronet Ltd. (GSPL) have gained 2%.
GSPL is part of the GSPC group.
GSPL was at Rs. 82.60, up Rs. 1.60 from the previous close after touching a day's high of Rs. 83.25.
RUPEE UPDATES :-
The rupee on Thursday rose above the Rs 52 level by gaining 28 paise to fresh five-and-half month high of 51.88 against the American currency in early trade on persistent dollar selling by exporters amid hopes of further reforms measures.
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