Mahanagar Gas Limited
PPFAS Mutual Fund initiated a new position in Mahanagar Gas, acquiring 16,60,993 shares for an approximate value of ₹182.78 crore at ₹1100.40 apiece, representing a 1.68% stake in the company. The fund had previously added a smaller number of Mahanagar Gas shares in February 2026 and significantly increased its holdings in May 2026.
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.
Founded by Parag Parikh Financial Advisory Services, best known for the Parag Parikh Flexi Cap Fund which invests in both Indian equities and select global large-caps including Meta, Alphabet, and Microsoft. Manages over Rs 1.2 lakh crore with a concentrated, long-duration, value-focused approach. CIO Rajeev Thakkar is one of India's most respected investors with a Munger-influenced thinking style.