Adani Gas announces Price Reduction from Oct 10, 2020

Adani Gas Ltd. (AGL),the city gas distribution business of the Adani Group, has announced the reduction in the prices of Compressed Natural Gas (CNG) and Domestic Piped Natural Gas (PNG) across its various geographical areas with effect from 10-10-2020.

The reduction in CNG prices is Rs 1.75 per kg in Khurja geographical area in Uttar Pradesh. Rs. 1.70 per kg In Mahendragarh, whereas In Faridabad and Palwal areas the reduction is Rs 1.60 per kg, and the reduction in Ahmedabad/ Vadodara areas in Gujarat is Rs 1.31 per kg.

The reduction in Domestic PNG prices is Rs 1.11 per SCM in Faridabad, Palwal&Khurja Geographical Areas and Rs 1.0 per SCM in Ahmedabad and Vadodara Geographical Areas.

With the reduction in the already attractive CNG prices, consumers shall now accrue much higher savings as compared to petrol and diesel (up to 50 % savings over petrol in some Geographical Areas). This will also encourage all residents in geographical areas where AGL operates, to convert their vehicles to environmentally friendly CNG and contribute to reducing carbon footprint.

AGL has renewed emphasis on safety and while customers enjoy the healthy, reliable and superior convenience of contact-less Domestic PNG services even in these challenging times.

Adani Gas Limited has approx. 4.50 lacs PNG (Domestic, Commercial & Industrial) customers & caters to retail CNG customers through 134 CNG stations across various locations.

Shares of Adani Gas Ltd was last trading in BSE at Rs.190 as compared to the previous close of Rs. 190.45. The total number of shares traded during the day was 90013 in over 1884 trades.

The stock hit an intraday high of Rs. 191.95 and intraday low of 188. The net turnover during the day was Rs. 17053182.

Source : Equity Bulls

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