Indraprastha Gas, a natural gas distribution company, announced that the company has acquired 47.5 million shares (constituting 50% of present paid up capital) of Maharashtra Natural Gas (MNGL) in the first tranche at a price of Rs 38 a equity share from certain financial investor shareholders of MNGL.

The stock had outperformed the market over the past one month till Mar. 27, 2015, falling 3.68% compared with the Sensex's 6.03% decline. It outperformed the market in past one quarter, gaining 1.79% as against 0.80% rise in the Sensex.

Shares of the company gained Rs 5.95, or 1.44%, to trade at Rs 418.60. The total volume of shares traded was 4,151 at the BSE (1.21 p.m., Monday).