Adani Total Gas is up 40 percent in 15 days

Aug 25, 2021

By: BI India Bureau

Adani Total Gas

One of the Adani Group companies, Adani Total Gas, has surged 40 percent in just the last 15 days on heavy volumes.

Credit: BCCL

Adani Total Gas stock in upper circuit

Shares of the company have been on a 5 percent upper circuit for five consecutive days including Wednesday, August 25.

Credit: BCCL

Trading volumes

Usually, the company’s volumes have been between 1.2 lakh to 2 lakh recently, but on Wednesday it is trading with just 46,491 volumes.

Credit: BCCL

Joint venture

The city gas distribution company is a joint venture of Adani Group and TotalEnergies of France.

Credit: BCCL

Market capitalisation

The market capitalisation of the company currently stands at ₹1.35 lakh crore.

Credit: BCCL

Smartmeters Technologies acquisition

On August 20, the company acquired a 50 percent stake in Smartmeters Technologies, an Indian manufacturer of gas meters, for ₹1 crore.

Credit: BCCL

Smartmeters Technologies acquisition

Smartmeters, which has a turnover of ₹4.83 crore in the year up to March 31, 2021, manufactures gas meters which are used to measure consumption of gas piped into household kitchens.

Credit: BCCL

Prepaid smart meters

The objective of the acquisition is to manufacture gas meters with a focus on prepaid smart meters.

Credit: BCCL

Adani Total Gas net profit rose three-fold

The stock gained traction after the company reported a three-fold increase in June quarter standalone net profit to ₹138 crore from ₹46 crore in the March quarter.

Credit: Pixabay

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