Adani Gas surges as ICRA upgrades company’s long-term rating to ‘AA-’

Adani Gas is currently trading at Rs. 194.15, up by 4.25 points or 2.24% from its previous closing of Rs. 189.90 on the BSE.

The scrip opened at Rs. 187.00 and has touched a high and low of Rs. 200.90 and Rs. 182.95 respectively. So far 452372 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 200.90 on 04-Sep-2020 and a 52 week low of Rs. 76.70 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 200.90 and Rs. 168.00 respectively. The current market cap of the company is Rs. 21391.31 crore.

The promoters holding in the company stood at 74.80%, while Institutions and Non-Institutions held 20.26% and 4.94% respectively.

Credit rating agency — ICRA has upgraded Adani Gas’s long-term rating to ‘AA-’ and re-affirmed the short-term rating at ‘A1+’ with stable outlook.

Adani Gas is a wholly owned subsidiary of the Adani Enterprise (AEL) and was incorporated for setting up distribution network in various cities to supply natural gas to industrial, Commercial, Domestic and CNG Customers.

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