Shares of Adani Gas were locked at an upper circuit limit of 5% at Rs 73.70 at 12:15 IST on the BSE.
On the BSE, the stock opened at Rs 70.20 and the counter clocked volumes of 1.20 lakh equity shares. The scrip has been admitted to the 'T' group of securities on the exchange for 10 trading days.
Adani Gas, a subsidiary of Adani Enterprises, is developing city gas distribution networks to supply the piped natural gas to the industrial, commercial, domestic (residential) and compressed natural gas to the transport sector.
Last year, Adani Enterprises had announced demerger of its gas sourcing and distribution business into Adani Gas as part of its efforts to simplify the overall business structure. The shareholders of Adani Enterprises were allotted one equity share of Adani Gas (face value of Re 1) for each share held in Adani Enterprises.
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