INDUSTRY NEWS

Adani Gas zooms 37% in two days; stock hits fresh record high

Shares of Adani Gas continued its northward movement on Wednesday as the stock hit a fresh record high of Rs 335, up 14 per cent on the BSE, thereby zooming 37 per cent in the past two trading days on the back of heavy volumes.

The trading volumes on the counter more-than-doubled with a combined 10 million equity shares changing hands on the NSE and BSE till 10:00 am. In comparison, the S&P BSE Sensex was trading flat at 43,959 points. In the past month, the stock has rallied 82 per cent, against a 10 per cent rise in the benchmark index.

Adani Gas on November 3, said it has signed a definitive agreement for the acquisition of the business undertaking pertaining to city gas distribution and retail sale of CNG that is being undertaken in geographical areas of Jalandhar, Ludhiana, and Kutch (East).

Source
business standard
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