Adani Gas Ltd

The Group said it has participated in the 5G spectrum auction to provide private network solutions along with enhanced cyber security in the airport, ports & logistics and other businesses

Shashi Shanker, former chairman and managing director of Oil and Natural Gas Corporation, has been appointed as an independent director on the board of Adani Total Gas Ltd (ATGL), the company said in a regulatory filing. Shanker, who superannuated as the head of India's largest oil and gas producer on March 31, 2021, was appointed to the board of ATGL on May 4. "This is to inform that, on the recommendation of Nomination & Remuneration Committee, the Board of Directors of the company have appointed Shashi Shanker, as an Additional Director (Non-Executive, Independent) of the company," the filing said. He was chairman and managing director of state-owned ONGC from October 1, 2017 to March 31, 2021. ATGL is a joint venture of billionaire Gautam Adani-led infrastructure-to-energy conglomerate and Total of France for city gas business entailing the sale of CNG to automobiles and piped natural gas to households and industries. The company board is headed by Adani and includes his ...

The company's total income fell to Rs 6,327.57 crore in the quarter from Rs 8,077.89 crore in the year-ago period

Originally, Adani Gas was part of Adani Enterprises Ltd (AEL) and was demerged into a separate unit before half of Adani family's 74.8 per cent stake being sold to Total

Firm has already brought in a nominee of the French oil major on its board

The two firms in 2013 had incorporated a 50:50 joint venture company, IndianOil-Adani Gas Pvt Ltd, for implementation of city gas distribution projects in various cities in the country

On May 18, 2011, the Rajasthan government withdrew the NOC given to Adani Gas

Adani Gas hit a new high of Rs 112, up 14% on Thursday, extending its rally of over 25% in the past two days, and thus joining the Rs 100-billion market capitalisation club.

The stock trading at Rs 97.80, its highest level since listing on November 5, rallied 26% in past two days from Rs 77.70 as the stock shifted to normal trading segment with effect from Tuesday.

AGL has been operating city gas distribution (CGD) networks in Vadodara and Ahmedabad since 2004 and Faridabad since 2009

The permit has instead been granted to a joint venture of GAIL India Ltd and Indian Oil Corp