Shares of Adani Total Gas hit a lifetime high of 2,380 rupees, up 6 per cent over BSE in trade during Monday. The stock rose by 16 percent in the past six trading sessions after the company announced its entry into the electric mobility infrastructure sector.
The stock is up 50 per cent from the Rs 1,587 level since March, compared to 7 per cent in the S&P C Sensex.
On March 28, Adani Total Gas has taken the plunge into electric mobility by launching the first Electric Vehicle Charging Station (EVCS) in Ahmedabad, Gujarat. “We aim to expand the electric mobility network by creating 1,500 EVCS across the country. We have kept an expansion plan ready to exceed 1,500 EVCS, on the basis of generating demand and building momentum for the country’s electric vehicle ecosystem,” the company said. in the current situation.
Adani Total Gas is India’s leading private company in developing city gas distribution networks (CGD) to supply piped natural gas (PNG) to industrial, commercial and domestic (residential) customers and compressed natural gas (CNG) to the transportation sector. With pre-licensing gas distribution mandated for 14 new Geographical Areas (GAs), ATGL serves 38 geographies representing 8 percent of India’s population.
“We have received letters of authorization to extend, build, operate and expand CGD networks for several geographies (gas, after participating in the 11th CGD Bid Round conducted by the Petroleum and Natural Gas Regulatory Board (PNGRB)), the company said on March 22nd in a press release. Click here to post