Adani Total Gas shares soared following the announcement of a $375 million financing package from global lenders, marking a significant milestone in the city gas distribution sector aimed at expanding infrastructure across India.
Adani Total Gas operates city gas distribution (CGD) networks, supplying PNG to industrial, commercial, and residential customers. and CNG to the transport sector.
Adani Total Gas has added 91 new CNG stations in the March quarter and posted strong volume growth.
Adani Total Gas shares tank over 7 percent on profit-booking. The stock has risen 92 percent in the last one month, but is still trading 71 percent lower on a YTD basis.