Mahanagar Gas Limited
LIC decreased its stake in Mahanagar Gas Limited from 6.75% to 5.80%, selling 9,36,500 shares.
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 largest domestic institutional investor with over Rs 56 lakh crore in total AUM, of which roughly Rs 15 lakh crore sits in listed equities. Holds stakes in virtually every major listed Indian company. When LIC builds or exits a position, it moves markets. Government-owned and mandated to invest policyholder funds in Indian equities and bonds, making it the ultimate long-only, long-term India bull.