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Adani Gas zooms 43% in five days; hits record high

Capital Market 

Adani Gas soared 14.03% to Rs 334, extending gains for the fifth consecutive session.

Shares of Adani Gas surged 42.70% in five trading sessions from a recent closing low of Rs 234.05 hit on Wednesday, 11 November 2020.

On a consolidated basis, Adani Gas net profit rose 12.7% to Rs 135.67 crore on a 11.6% decline in net sales to Rs 417.86 crore in Q2 FY21 over Q2 FY20.

Adani Gas is engaged in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, commercial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector.

The scrip hit an all-time high at Rs 348 during intraday. The stock jumped 353.71% from its 52-week low of Rs 76.70 hit on 25 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 18 2020. 10:35 IST