Adani Total Gas advanced 0.68% to Rs 3645.20 after the company announced the receipt of letter of award (LoA) from Convergence Energy Services for setting up and operating electric vehicle charging stations across various cities.
The contract involves supply, installation, testing, commissioning, operation and maintenance of electric vehicle charging stations in eight cities (Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata, Mumbai, Pune and Surat) on build, own and operate (BOO) model for a period of eight years.
Adani Total Gas is one of India's leading private players 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 company's consolidated net profit rose 1.2% to Rs 160.02 crore on 72.1% jump in revenue from operations to Rs 1,115.50 crore in Q2 FY23 over Q2 FY22.
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