Adani Total Gas trades higher on the BSE
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Adani Total Gas is currently trading at Rs. 737.30, up by 93.15 points or 14.46% from its previous closing of Rs. 644.15 on the BSE.
The scrip opened at Rs. 701.00 and has touched a high and low of Rs. 760.00 and Rs. 695.25 respectively. So far 468042 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3998.35 on 23-Jan-2023 and a 52 week low of Rs. 521.95 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 760.00 and Rs. 529.00 respectively. The current market cap of the company is Rs. 81127.49 crore.
The promoters holding in the company stood at 74.80%, while Institutions and Non-Institutions held 20.09% and 5.11% respectively.
Adani Total Gas (AGTL) has launched Green Hydrogen Blending Pilot Project at Ahmedabad. As part of the project, ATGL will employ the latest technologies to blend Green Hydrogen (GH2) with natural gas for over 4,000 residential and commercial customers at Ahmedabad, Gujarat. GH2 is produced using electrolysis of water with electricity generated by renewable energy. Hydrogen blending is less carbon intensive than burning gas but has the same heating capabilities.
The project is expected to be commissioned by Q1 FY24-25 and the percentage of green hydrogen will be gradually increased in the blend to upto 8% or more, depending on regulatory approvals. After successfully completing the pilot, hydrogen blended fuel will be supplied stepwise to larger parts of the city and other license areas of AGTL.
With this pilot, ATGL would like to partner with various stakeholders including regulatory authorities to share its firsthand learning and develop ecosystem about hydrogen blending in city gas distribution in India. This will also help in gaining and sharing knowledge on the operational aspects and the compatibility of blended fuel on existing infrastructure.
Adani Total Gas is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential) and Compressed Natural Gas (CNG) to the transport sector.
