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