Adani Total Gas gains on order win worth ₹130 - ₹150 crore from Ahmedabad

Adani Total Gas gains on order win worth ₹130 - ₹150 crore from Ahmedabad
Adani Total Gas gains on order win worth ₹130 - ₹150 crore from Ahmedabad

by Tanushree Jaiswal Last Updated: Sep 18, 2023 - 04:14 pm 175 Views

Adani Total Gas Limited share price opened 2% higher at ₹648 in early trade on September 18. This surge followed the company's announcement of additional details regarding an order received on September 6, 2023.

The Order Details

The order involves the development, construction, financing, and management of a bio-compressed Natural Gas (CNG) plant with a capacity of 500 tonnes per day. This plant will be located at Gyaspur in Ahmedabad and will operate on a Public-Private Partnership (PPP) model. The order was placed by the Ahmedabad Municipal Corporation. According to Adani Total Gas, the project's estimated cost falls in the range of ₹130 crore to ₹150 crore, and the contract has a 20-year execution period. Furthermore, the municipal corporation will provide the land for the CNG plant and ensure a supply of 500 TPD waste to the plant's doorstep.

Expansion Plans

In its latest annual report, Adani Total Gas revealed ambitious expansion plans. The company intends to invest between ₹18,000 crore and ₹20,000 crore over the next eight to ten years to enhance its infrastructure for distributing CNG to automobiles and supplying natural gas through pipelines to both residential and industrial users.

Financial Performance

Adani Total Gas Ltd, a joint venture between the Adani group and France's TotalEnergies, specializes in selling CNG for automobiles and piped gas for households. In the first quarter of 2023, the company posted 9% increase in net profit, reaching ₹150.2 crore in Q1, up from ₹138.4 crore in the same quarter in 2022.

Despite the recent positive developments, Adani Total Gas stock experienced an 82.50% decrease in the past year and a corresponding 82% fall in 2023. The stock is in the process of rebounding from its 52-week low of ₹620, which it reached on June 26 of this year. Currently, shares are down by 84% from their highest point before experiencing a significant decline. Prior to this decline, the stock witnessed an impressive 358% surge in 2021, followed by a further increase of 114% in 2022. Additionally, shares had gained 130.% in 2020.

Adani TotalEnergies and Prakriti E-Mobility Forge Path to India's EV Future

Adani TotalEnergies E-Mobility Limited (ATEL), a subsidiary of Adani Total Gas Limited, has announced a groundbreaking partnership with Prakriti E-Mobility, known as Evera. This collaboration aims to revolutionize the EV charging infrastructure landscape in the country by integrating 200 EV charging points into a super-hub in Delhi.

ATEL, a joint venture between the Adani Group and French energy giant TotalEnergies, is committed to creating a comprehensive EV charging ecosystem that caters to both individual customers (B2C) and businesses (B2B). The strategic alliance with Evera couldn't come at a more opportune time, as India experiences a surge in EV demand while charging infrastructure still lags behind.

The core objective of this partnership is to bolster India's ambitious 2030 decarbonization target. As electric vehicles gain popularity in the cab-hailing segment, ATEL, and Evera are determined to bridge the existing EV infrastructural gaps across the country. Their focus will be on key highways, workplaces, and other strategic locations, offering convenient and rapid AC and DC charging solutions.

Strategic Location and Green Mobility

The partnership's flagship project will be located in the Delhi-NCR region, strategically positioned near the Delhi International Airport. This location not only supports Evera in providing eco-friendly rides to customers but also facilitates easy access for travelers. The upcoming hub will host approximately 200 EV charging points, a mix of AC and DC chargers, ensuring a seamless charging experience for all EV users.

Suresh P Manglani, CEO of ATGL, expressed his excitement about this project, emphasizing its proximity to the airport, which will be a boon for Evera's green transportation services. The EV charging station in Samalkha will also be open for use by other aggregators and individual EV owners, promoting cross-utilization and strengthening the overall EV ecosystem in New Delhi. This model is poised for replication across India.

Importantly, ATEL and Evera have devised a revenue-sharing model to enable this infrastructure expansion, leveraging their respective strengths for mutual benefit.

A User-Friendly EV Experience

Nimish Trivedi, Co-Founder & CEO of Evera, highlighted the user-centric approach of this collaboration. He emphasized that the partnership aims to alleviate range anxiety among Evera cab drivers and all-electric vehicle owners, making longer journeys hassle-free.

While the statement did not specify the exact number of EV charging stations that the joint venture plans to establish, it is evident that this partnership between ATEL and Evera holds immense promise for the future of EVs in India. As the demand for electric vehicles continues to grow, this collaboration represents a significant step toward building a robust and accessible charging infrastructure across the nation.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Unihealth Consultancy IPO lists at 2.27% premium, tapers later

Tepid listing for Unihealth Consultancy IPO on the NSE-SME

  • Sep 21, 2023
EMS IPO lists at 33.67% premium, tapers post listing

EMS IPO had a strong listing on 21st September 2023, listing at a smart premium of 33.67%, but tapering towards the close to list below the listing price.

  • Sep 21, 2023
Madhusudan Masala IPO Closing Subscription Details

The IPO of Madhusudan Masala Ltd closed on Thursday, 21st September 2023. The IPO had opened for subscription on 18th September 2023. Let us look at the final subscription status of Madhusudan Masala Ltd at the close of subscription on 21st September 2023.

  • Sep 21, 2023