Shares of Adani Total Gas were trading in the green and 2% higher on 26 June after the company announced securing regulatory approval to operate the city gas distribution network in Jalandhar. 

In its regulatory filing, the company said that they have received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB). This approval is crucial in the business transfer agreement of the company regarding acquisitions of certain business undertakings related to cut gas distribution and CNG retailing that spanned the regions of Jalandhar. 

The company added that with Jalandhar, they now have 34 geographical areas, enabling them to have a strong footprint in Punjab. 

In its quarterly earnings for January-March, the company reported a 71.6% year-on-year increase in net profit to Rs 168 crore for the quarter under review. The revenue of operations during the quarter stood at Rs 1,167 crore, marking a 4.7% YoY increase from Rs 1,114.8 crore reported in the same quarter last year. 

At 3:30 pm, the shares of Adani Total Gas closed 0.285 higher at Rs 892 on NSE.