Business

Adani Total Gas Shares Surge 6% After Securing $375 Million From Global Lenders

Shares of Adani Total Gas Ltd rose by 6% on Monday, following the announcement that the company secured $375 million in funding from international lenders to expand its business. The stock surged to Rs 836.10 on the BSE, hitting an intraday high of Rs 854.65.

Stock Rally on BSE and NSE

The company’s shares saw a significant rise on both the BSE and NSE. On the BSE, the stock jumped 6.02%, while on the NSE, it closed 5.19% higher at Rs 829.70. In total, 2.88 lakh shares were traded on the BSE, with 61.22 lakh traded on the NSE.

Global Lenders Boost Expansion Plans

Adani Total Gas secured $375 million in financing from global banks, including BNP Paribas, DBS Bank, and Mizuho Bank. The funds will accelerate expansion into 34 geographical areas across 13 states, enhancing the company’s city gas distribution network. CFO Parag Parikh stated that this move will strengthen India’s gas-based economy.

The expansion will serve up to 14% of India’s population, increasing the availability of piped natural gas and compressed natural gas infrastructure.

Also Read: EPFO Adds Record 19.94 Lakh Members In July, Highest Since 2018

Ajaypal Choudhary

Recent Posts

How US Presidential Election Is Conducted – Explained

The US presidential election is a complex, multi-step process that involves both voters and an…

15 mins ago

Mumbai Police Uncover Connections & Weapons In Baba Siddiqui Murder Investigation

The Mumbai Police disclosed that the firearms used to assassinate late NCP leader Baba Siddiqui…

1 hour ago

Mumbai Police Investigate New Death Threat Against Salman Khan Linked To Gangster Lawrence Bishnoi

Mumbai Police is investigating a threatening message directed at actor Salman Khan, allegedly originating from…

1 hour ago

Uttar Pradesh Government To Tighten Control Over DGP Appointment Before By-Elections

Ahead of the by-elections, CM Yogi Adityanath's government in Uttar Pradesh will take greater control…

2 hours ago

Somy Ali Opens Up About Her Past With Salman Khan, Says “Being Known As His Ex Is A Curse”

Somy Ali, the former Bollywood actress and dedicated social worker, has shared her feelings about…

2 hours ago

External Affairs Minister S Jaishankar Raises Alarm Over Attack On Hindu Temple In Canada

External Affairs Minister S Jaishankar expressed grave concerns regarding the recent violent incident at a…

3 hours ago