Adani Gas hits new high after ICRA upgrades Co's rating with stable outlook

In the past one month, Adani Gas outperformed the market by surging 23 per cent against a 2 per cent rise in the S&P BSE Sensex.

Shares of Adani Gas hit an all-time high of Rs 201 on the BSE in intra-day trade on Friday after the company said rating agency ICRA has upgraded its long-term rating and re-affirmed the short-term rating with a stable outlook.

The stock of Adani Group bounced back 9 per cent from its early morning low of Rs 183 on the BSE. In the past one month, it outperformed the market by surging 23 per cent against a 2 per cent rise in the S&P BSE Sensex.

In the April-June quarter (Q1FY21), despite continued Covid-19 impact, Adani Gas achieved a combined