The company said it sold 14 per cent more CNG to automobiles and five per cent more piped cooking gas to household kitchens in the fourth quarter of 2018-19.
recently won additional geographical areas (GA) in the ninth and tenth rounds of CGD bidding. With these wins, the company is now authorised for 19 GAs and our joint venture with Indian Oil is now authorized for 19 GAs for natural gas network development and distribution, making us one of the leading CGD players in the country.
The company announced its listing on the stock exchanges on November 5, 2018 in a bid to become the largest CGD Company in India and unlock its value for existing shareholders. As part of the listing process, Adani Gas
has allotted equity shares to existing shareholders of Adani Enterprises in the ratio of 1:1.
At 12:05 pm, the stock was trading 13 per cent higher at Rs 161, as compared to 0.20 per cent decline in the S&P BSE Sensex.
The trading volumes on the counter jumped three-fold with a combined 4.78 million shares changing hands on the NSE