Shares of Adani Total Gas Ltd are in focus today after the Adani Group firm said it has won an order for a 500 tonne per day bio-CNG plant in Ahmedabad. In the previous session, the Adani Total Gas stock closed 1.75% higher at Rs 644.70 against the previous close of Rs 633.60 on BSE. Market cap of the firm rose to Rs 70904 crore on BSE. A total of 1.44 lakh shares of the firm changed hands, amounting to a turnover of Rs 9.20 crore on BSE.
Adani Total Gas stock has lost 82.50 percent in a year and fallen 82 per cent in 2023.
In terms of technicals, the relative strength index (RSI) of the Adani Total Gas stock stands at 47.8, signaling the stock is trading neither in the oversold nor overbought zone. Adani Total Gas has a one-year beta of 1.2, indicating high volatility during the period. Adani Total Gas stock is trading lower than the 10 day, 20 day, 50 day, 100 day and 200 day but higher than the 5 day moving averages.
“We would like to inform that the company has received Work Order dated 5th September, 2023 from Ahmedabad Municipal Corporation (AMC) for “Design, Build, Finance and Operate a 500 Tonnes Per Day (TPD) Capacity Bio-CNG (CBG) Plant on PPP Model” at Pirana / Gyaspur, Ahmedabad for a concession period of 20 years. Work Order was received from AMC around 6.15 p.m. on 5th September, 2023,” said the Adani Group firm.
Adani Total Gas Ltd—the joint venture of Adani group and TotalEnergies of France which sells CNG to automobiles and piped gas to households-reported a 9% rise in net profit for the June 2023 quarter. Adani Total posted a net profit of Rs 150.2 crore in Q1 of this fiscal against Rs 138.4 crore profit during the quarter ended June 2022.
In the March 2023 quarter, profit stood at Rs 98 crore. Revenue climbed 1.3% to Rs 1056 crore in Q1 against Rs 1042 crore during the quarter ended June 2022. EBITDA margin in the June quarter rose to 23.5% in Q1 against 21% on a YoY basis. EBIDTA during Q1 surged 13.3% to Rs 247.8 crore against Rs 218.6 crore against the corresponding quarter in the previous fiscal.
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