The company has acquired 6,25,000 shares through stock exchange with view to reap the long-term/short-term investment benefits.

The company clarified that it do not intend to acquire control whether directly or indirectly of the management of GAIL (India).

Maithan Alloys is primarily engaged in the business of manufacturing and exploring of all three bulk ferro alloys- ferro manganese, silico manganese and ferro silicon. It is also engaged in the generation and supply of wind power and has a captive power plant.

GAIL (lndia) is the largest state-owned natural gas processing and distribution company in the country. It has a diversified business portfolio and has interests in the sourcing and trading of natural gas, production of LPG, liquid hydrocarbons and petrochemicals, transmission of natural gas and LPG through pipelines, etc. Its turnover was Rs 1,37,288 crore in FY25.

Shares of Maithan Allloys shed 0.34% to settle at Rs 1,207.05 while GAIL (India) declined 4% to end at Rs 192.10 on the BSE.

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