Adani Gas hits new high; stock zooms 408% from March 2020 low

Shares of Adani Gas hit a new high of Rs 390, up 4 per cent on the BSE in intra-day trade on Wednesday in otherwise range-bound market. The stock of Adani Group integrated oil & gas company surpassed its previous high of Rs 382.50 touched on December 3, 2020. In comparison, the S&P BSE Sensex was up 0.04 per cent at 47,633 levels at 10:58 am.

In the past three months, Adani Gas has zoomed 106 per cent, as compared to 25 per cent rise in the S&P BSE Sensex during the same period. The stock has skyrocketed 408 per cent from March low of Rs 76.70 on the BSE.

Adani Gas on November 6 announced a strategic collaboration with Italy-based Snam, Europe’s leading gas infrastructure company.