Shares of Adani Total Gas had hit a new lifetime high of Rs 2,380, up 6 per cent on the BSE in Monday’s intra-day trade. The stock surged 16 per cent in the past six trading sessions after the company announced its foray into the electric mobility infrastructure sector.

The stock had rallied 50 per cent from a level of Rs 1,587 in March, as compared to a 7 per cent rise in the S&P BSE Sensex.

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On March 28, Adani Total Gas forayed into Electric Mobility by launching its first electric vehicle charging station (EVCS) in Ahmedabad, Gujarat. “We aim to expand electric mobility network by setting up 1500
EVCS across the country. We have kept an expansion plan ready to move beyond 1500 EVCS, based on demand generation and momentum building of EV ecosystem in the country,” the company said.

Adani Total Gas is India’s leading private player 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. Given its gas distribution mandate before the authorisation of 14 new Geographical Areas (GAs), ATGL caters to 38 Geographical Areas, which account for 8 per cent of India’s population.