Hot Stock: This gas distribution company receives order from Ahmedabad Municipal Corporation!

The stock gave multibagger returns of 235 per cent in just 3 years.

Adani Total Gas Ltd informed that the company has received a work order from Ahmedabad Municipal Corporation (AMC) for the design, build, finance and operate a 500 Tons Per Day (TPD) Capacity Bio-CNG (CBG) Plant on the PPP Model at Pirana / Gyaspur, Ahmedabad for a concession period of 20 years.

Adani Total Gas Ltd (ATGL) is engaged in the City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial and vehicle users. The company has a market cap of over Rs 71,000 crore with a 3-year stock price CAGR of 49 per cent. The shares of the company have an ROE of 20.4 per cent and a ROCE of 20.7 per cent.

According to the Quarterly Results, the net sales increased by 1.35 per cent to Rs 1,056 crore and net profit increased by 8.7 per cent to Rs 150 crore in Q1FY24 compared to Q1FY23. According to the annual results, the net sales increased by 44 per cent to Rs 4,378 crore and net profit increased by 8 per cent to Rs 546 crore in FY23 compared to FY22.

On Thursday, shares of Adani Total Gas Ltd surged 0.33 per cent to Rs 648.80 per share with an intraday high of Rs 655 and an intraday low of Rs 645. The stock’s 52-week high is Rs 3,998.35 and its 52-week low is Rs 620.15.

The stock gave multibagger returns of 235 per cent in just 3 years. Investors should keep an eye on this Large-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.