Adani Total Gas shares were trading in the green on 18 September after the company gave further details about the order received on 6 September.
The company received an order from Ahmedabad Municipal Corporation for designing, constructing, managing, and financing a bio-CNG plant with a capacity of 500 tonnes per day.
The plant is said to be located at Gyaspur in Ahmedabad and is said to operate on a PPP model.
The company said in its exchange filing that the order’s approximate cost will range from Rs 130 crore to Rs 150 crore.
The order is said to be executed in 20 years and will be constructed on a land parcel provided by the municipal corporation for setting up the bio-CNG plant and 500 tonnes per day of waste at the plant’s doorstep.
In its annual report, the company announced an investment of Rs 18,000 crore to Rs 20,000 crore in the next 8 – 10 years to expand infrastructure for retailing CNG to automobiles and piped gas to households and industries.
In its quarterly report for the April-June quarter, the company reported a 9% YoY growth in its net profit at Rs 150 crore from Rs 138 crore in the year-ago quarter.
At 11:36 am, the shares of Adani Total Gas were trading at Rs 642.30 or 0.94% above its previous close on NSE.