January 4, 2024
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Adani Total Gas signs pact with Shigan for collaboration in decarbonization
Adani Total Gas Ltd on Wednesday entered into a Memorandum of Understanding (MoU) with Shigan Quantum Technologies, aiming at decarbonizing the supply chain for enabling a transition towards cleaner fuels such as CNG and LNG. Under the MoU, both ATGL and Shigan will explore various areas of collaboration, Adani Total stated in an exchange filing.
“Besides developing CNG/LNG-based retrofitment solutions, the partnership will explore developing e-mobility based solutions for last mile delivery players and use cases for green hydrogen as fuel for ICE (internal combustion engine) vehicles,” the company mentioned.
The stock today jumped 10 per cent to hit its upper price band of Rs 1,100.65.
Separately, all Adani stocks were up today after the Supreme Court said the Indian conglomerate does not need to face more investigations beyond the current scrutiny of market regulator Sebi.
The SC verdict came as a major relief for the Adani Group which was hit hard by US-based short-seller Hindenburg Research’s allegations of wrongdoing.
The top court also asked Sebi to complete the remaining two of the 24 probes in three months.
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