IRM Energy shares spike 14% after signing RLNG supply pact with Shell

Shares of IRM Energy rallied over 14 per cent on Thursday, a day after it signed a five-year contract with Shell's India unit for the supply of Regasified Liquefied Natural Gas (RLNG).

 

IRM Energy’s stock rose as much as 14.1 per cent during the day to ₹303.05 per share, the biggest intraday gain since April 22, 2024. However, stock trimmed gains to trade 10.39 per cent higher at ₹293.2 apiece, compared to a 0.43 per cent advance in Nifty 50 as of 19:47 AM. 

 

Shares of the company snapped their two-day fall on Thursday. The stock has fallen 16 per cent in 2025 so far, compared to a 0.27 per cent fall in the benchmark Nifty 50. IRM Energy has a total market capitalisation of ₹1,211.47 crore, according to BSE data. 

 

The company, in an exchange filing on Wednesday, said it will purchase 1.23 crore metric million British thermal unit (MMBtu), roughly 326.84 million metric standard cubic meter (mmscm), at a 9,500 kilocalorie (k/cal) Gross Calorific Value (GCV). "This agreement marks a significant milestone in IRM Energy’s strategic growth, ensuring stable and cost-effective energy supplies for its customers," it said in the statement. 

 

The partnership with Shell is expected to strengthen IRM Energy’s ability to provide cleaner and more affordable fuel solutions, contributing to India’s energy security and sustainability goals, it added. "By leveraging Shell’s global expertise in LNG, IRM Energy aims to enhance its service capabilities, helping businesses transition towards greener energy alternatives and reducing their carbon footprint."

 

"With this partnership, we are confident in ensuring stable gas supplies that will support economic development and clean energy adoption,” Manoj Kumar Sharma, chief executive officer at IRM Energy, said in the filing. 

 

The Company is a city gas distribution company in India with operations at Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat) and Namakkal & Tiruchirappalli (Tamil Nadu). It is engaged in the business of laying building operating and expanding the city or local natural gas distribution network.  CNG customers include operators of public transport vehicles such as taxis, auto-rickshaws and private vehicles such as cars, buses, light goods vehicles and heavy goods vehicles.