STOCK MARKET BSE NSE

Adani Gas shares soar after French energy major Total acquired stake in firm

The scrip jumped 17.98 per cent to Rs 162.40 on the BSE. At the NSE, it advanced 18.41 per cent to Rs 163.

Published: 14th October 2019 12:53 PM  |   Last Updated: 14th October 2019 12:53 PM   |  A+A-

sensex, nifty, stock exchange, shares, BSE

For representational purposes. (Photo | PTI)

By PTI

NEW DELHI: Shares of Adani Gas on Monday zoomed over 18 per cent after French energy giant Total announced acquisition of 37.4 per cent stake in the Gautam Adani-led firm.

The scrip jumped 17.98 per cent to Rs 162.40 on the BSE. At the NSE, it advanced 18.41 per cent to Rs 163.

The gas marketing and distribution company, however, did not reveal the value of the deal. The announcement comes a year after the two firms announced a 50:50 joint venture to import and retail natural gas.

"The partnership between Adani (50 per cent) and Total (50 per cent) includes several assets across the gas value chain notably two imports and regasification LNG terminals: Dhamra in East India and potentially Mundra in the west, as well as Adani Gas, one of the four main distributors of city gas in India of which Adani holds 74.8 per cent and of which Total will acquire 37.4 per cent," the French firm said in a statement on Monday.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp