Mahanagar Gas Limited

ICICI Prudential Mutual Fund initiated a new position in Mahanagar Gas Limited by purchasing 14,38,250 shares, representing a 1.46% stake in the company. The approximate value of this new position is ₹158.26 crore, based on a share price of ₹1100.40.

A city gas distribution company, Mahanagar Gas Limited supplies natural gas to residential, commercial, and industrial consumers across Mumbai and adjoining areas, including Raigad District in Maharashtra. The company operates an extensive pipeline network delivering piped cooking gas and compressed natural gas for vehicles. Operating as a franchisee under India's city gas distribution framework, it serves as a key energy infrastructure provider in western India.

India's second-largest AMC by AUM with over Rs 9 lakh crore managed across 80+ schemes. Joint venture between ICICI Bank and Prudential plc. CIO S. Naren is one of India's most recognised value investors, known for contrarian macro calls and rotating across market caps well ahead of consensus. ICICI Pru's quarterly portfolio disclosures are among the most closely watched in the industry.