New Delhi, Jan 18: Adani Group on Monday said global energy major TOTAL has acquired a 20 per cent equity stake in Adani Green Energy Ltd. The purchase of
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Total to buy AGEL stake
French oil giant Total SE yesterday said it would pay US$2.5 billion for a 20 percent stake in India’s Adani Green Energy Ltd (AGEL), a major solar energy producer, as it diversifies away from fossil fuels into renewables. Along with the 20 percent direct stake comes a 50 percent holding in a portfolio of solar energy assets operated by AGEL, part of the Adani group, Total said in a statement. The two companies have had a partnership accord since 2018, when Total acquired a stake in Adani Gas Ltd.
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The stock of Adani Gas Ltd (AGL) has shot up from Rs107 to Rs375 in the past six months which is much more than the other three gas distribution companies’ (Mahangar Gas, Indrapratha Gas and Gujarat Gas). Is the stock worth considering even now?
Adani Gas is in city gas distribution (CGD) business which involves marketing and distribution of natural gas. AGL supplies piped.
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Adani Gas Ltd is now Adani Total Gas Ltd
Posted On: 2021-01-02 03:12:25 (Time Zone: Arizona, USA)
The name of the Company has been changed from Adani Gas Limited to Adani Total Gas Limited w.e.f. 1st January, 2021, pursuant to which a fresh certificate of incorporation was issued by Ministry of Corporate Affairs, Registrar of Companies, Ahmedabad.
Shares of Adani Gas Ltd was last trading in BSE at Rs.376.3 as compared to the previous close of Rs. 374.9. The total number of shares traded during the day was 52045 in over 1266 trades.
The stock hit an intraday high of Rs. 380 and intraday low of 373.35. The net turnover during the day was Rs. 19599991.